Additionally, the Foundation has pledged to match employee contributions made to eligible nonprofits providing direct assistance to the region at a ratio of 2:1.

The collective efforts of PepsiCo’s market teams and bottling partners in the region are also contributing to supporting humanitarian relief efforts in collaboration with local organizations.

These combined initiatives have resulted in PepsiCo system donations exceeding $3 million, aimed at assisting those most in need.

The generosity of PepsiCo employees has played a significant role in these relief efforts, and their contributions will continue to make a difference in the coming days and weeks.

Pepsi didn’t originate from Israel

It is worth noting that while Pepsi does not have its origins in Israel and did not sell soft drinks in the country until 1991, the company has since established a presence in the region.

PepsiCo’s multiple teams in Israel include SodaStream, acquired in 2018 for $3.2 billion, and a joint venture with Strauss Group Ltd., an Israeli food and beverage company. These partnerships reflect PepsiCo’s commitment to working with local partners in various countries.

PepsiCo remains dedicated to providing support to its colleagues, partners, and the communities it serves worldwide, including those in Israel and Gaza, during times of crisis and need.

The company, which has been making and bottling PepsiCo-branded (PEP.O) drinks for three decades, posted a consolidated net profit of 9.94 billion rupees ($120.22 million) for the reported quarter ended June 30, compared with 7.87 billion rupees a year earlier.

Gurugram-based Varun Beverages, whose operations span six countries, is PepsiCo’s No.2 franchisee outside the United States and packages and distributes beverages under Pepsi, Mirinda and Tropicana labels.

The company, which also sells Aquafina packaged bottled water, said its consolidated revenue from operations grew 13.60% to 57 billion rupees year-on-year.

Earnings before interest, taxes, depreciation and amortisation (EBITDA), as calculated by Reuters, rose 20.78% to 15.11 billion rupees year-on-year, as sales growth helped offset subdued volumes in domestic markets due to unseasonal rainfall in North India.

Net realisation, the difference between overall sales value and cost of sales, increased 8.3% year-on-year on superior product mix, and drove EBITDA margin expansion to 26.50% in the June quarter from 24.93%.

Crude prices fell 6.10% during the quarter, and led to a 4.1% slide in input costs. Still, total expenses edged higher due to inventory costs that quadrupled during the quarter.

“We remain optimistic about our full-year performance,” Chairman Ravi Jaipuria said in a statement, and termed the June-quarter results “a resilient performance despite soft demand environment due to unseasonal rains”.

The company approved an interim dividend of 1.25 rupees per share.

Analysts anticipate sustained earnings growth in the coming quarters, driven by the company’s recent entry into value-added dairy, sports drinks segments and efforts to increase capacity in these high-margin segments.

Shares of Varun Beverages rose as much as 2.96% to 832 rupees.

Including session’s gains, the stock climbed 24.93% so far in 2023, compared with an 18.35% uptick in the fast-moving consumer goods index (.NIFTYFMCG).