Nestlé Pakistan posted a revenue of Rs 29.8 billion, an increase of 2.6 percent compared to the same period last year, despite many difficulties emanating from Covid-19 crisis. Juices and water as well as products for out-of-home channel were severely impacted by the lockdown.
In addition, Afghanistan border closure had a major impact on the exports. Net profit for the same period has declined mainly due to higher financing cost and currency devaluation impact. These quarterly results were announced following a board of directors' meeting at the Company's Head Office, said an announcement here on Thursday.
In view of the very exceptional situation caused by Covid-19, we will continue to prioritize health and wellbeing of our employees, business continuity and supporting communities with our relief efforts. In order to meet the nutritional needs of both affected and frontline heroes during these times, Nestlé Pakistan committed Rs 100m after the national response to the Covid-19 pandemic.
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