NEW DELHI: FMCG major Nestle today said it has taken Rs 100 crore hit on sales due to demonetisation and the sector will take another six months to overcome the impact of the government's move to scarp old high value notes. "We took an impact in November. If you look on overall impact, it would be difficult to put it but roughly the last quarter I met a loss of about of a billion on sales (Rs 100 crore) because of demonetisation," said Nestlé India Chairman and Managing Director Suresh Narayanan. "As far as we are concerned, in November we took a hit and December was much better. "For the FMCG industry, I would probably give it another two quarters.

Source: Economic Times February 20, 2017 14:03 UTC