Nestlé Pakistan announces Rs3.38bn profit after tax, down 17.3pc YoY

LAHORE: Nestlé Pakistan Limited in a notification to Pakistan Stock Exchange (PSX) on Monday, released its financial results for the period ended March 31, 2018, announcing profit after taxation of Rs3.38 billion, down 17. 3 per cent from Rs4.1 billion on March 31, 2017.

Earning per share stood at Rs74.73, compared to last years Rs90.42, down 17.4 per cent. Gross profit for the period was also down by around 1.96 per cent to Rs11.1 billion from Rs11.4 billion last year.

Costs, in general, experienced an upward trend with distribution and selling expenses, administrative expenses, finance cost increasing 12.1 per cent, 15.7 per cent and 82 per cent respectively. Other operating expenses, on the other hand, decreased by 12 per cent.

However, net sales for the period ended increased 8 per cent to Rs32.9 billion, compared to Rs30.4 billion on March 31, 2017.

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At the close of trading on Monday, Nestlé Pakistan Limited was trading on the PSX at Rs12,511 per share, down Rs339 or 2.64 per cent from start of the day.

 

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Muhammad Faran Bukhari
The writer is an economics and business journalist reporting for Profit. He is currently an MBA candidate at LUMS University and holds a Bachelors degree in Economics and Politics from the same university. He can be reached at [email protected] or at twitter.com/muhammadfaran
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