Lahore (Muhammad Yasir) Nestlé Pakistan Limited posted a revenue of PKR 32.3 billion for the three months period ended 31 March 2021, an increase of 8.2% compared to the same period last year, despite many difficulties emanating from the COVID-19 crisis. These results were announced following a Board of Directors’ meeting at the Company’s Head Office.
The growth was driven by volume increase and pricing management and benefitted from the improvement in the macro-economic situation of the country. Operating profit of the company improved compared to the same period of last year due to various cost savings initiatives across the value chain and better absorption of fixed overheads. Net profit for the quarter also improved due to lower financing cost owing to reduction in the policy rate.
Despite the ongoing third wave of COVID-19 and smart lock down across the country, the company remains hopeful to sustain the growth trajectory by ensuring delivery of Nutrition, Health and Wellness products to consumers and enhancing distribution reach. The company continues to be fully committed to keep employees, business partners and communities safe during these challenging times.
Nestlé Pakistan Limited is also continuously focusing on the following key areas as part of its Creating Shared Value (CSV) efforts: sustainable packaging, water resource management, rural development and women empowerment.