Wed, 08 Feb 2023 Today's Paper

Nestlé Lanka net up 98% to Rs.914mn amid favourable exchange rate

16 May 2013 05:54 am - 0     - {{hitsCtrl.values.hits}}

A A A

Nestlé Lanka PLC, a unit of Swiss-based multinational, said its profit in the first quarter of 2013 (1Q13) rose 98 percent year-on-year (YoY) to Rs.914 million, mainly benefiting from the favourable exchange rate environment prevailed in the country.

The revenue during the quarter under consideration rose 6.71 percent YoY to Rs.7.74 billion, while the cost of sales rising at a slower rate of 3.31 percent YoY to Rs.5 billion.

The firm has been able to reduce its other operating expenses drastically to Rs.4.8 million from Rs.239 million in the corresponding quarter of the previous year. The financial expenses fell 74 percent YoY to Rs.14 million.

“2013 market conditions continue to be challenging but our people have persevered in delivering consistent, good results. Our product innovations continue to be relevant to local consumer needs and I’m proud to say that our ‘Creating Shared Value’ strategy creates joint benefit for Nestlé and society at every stage of our value chain.

We continue to strive to make a difference to the lives of all our stakeholders with sustainable, responsible operations and safe food and beverages of the highest quality. Despite the many challenges, we remain cautiously optimistic,” Nestlé Lanka Managing Director Ganesan Ampalavanar said.

The company developed a new product innovation with the launch of Shaktigen and Nanogrow in the first quarter and its instant noodle brand Maggi was voted Food Brand of the Year and Youth Brand of the Year at SLIM Nielsen People’s Awards 2013.

Nestlé has also been recently awarded Swarnadeepa Award 2012 for contribution to Sri Lanka’s agricultural sector.

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Jeevan sets a record as Lanka’s youngest-ever Cabinet Minister

Ceylon Workers Congress (CWC) and Nuwara-Eliya district MP Jeevan Kumaravel T

TNA was Born in 2001 Due to Elections Shock of 2000

The Tamil National Alliance (TNA) with 10 seats in Parliament is currently fa

Pain and punishment

Should we spare the rod and spoil the child? Does it really happen? Children

Health System in the emergency room

Sandya Kumari from Kotahena has been experiencing chest pains since 2015 and