[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Nestlé Pakistan Ltd (Nestlé), a major manufacturer of consumer goods, reported a record profit of more than Rs 15 billion in 2022. The company disclosed this information to the Pakistan Stock Exchange (PSX) on Monday when it released its financial results for the year ended December 2022.
Notwithstanding the country’s severe financial difficulties, such as the continuously growing inflation rate, Nestlé’s net sales increased by 22% to Rs 163 billion in the previous year. Additionally, the business’s gross profit increased 23% year over year (YoY) to Rs. 49.6 billion. Profit before taxes increased by 27% to Rs 22.8 billion from Rs 26.78 billion in profit from operations.
Nestlé’s profit after tax (PAT) increased 18% to Rs 15 billion, and as a result, earnings per share increased 18% to Rs 331.86. This is Nestlé Pakistan’s highest PAT ever recorded. The business’s 2017 net profit of Rs 14.6 billion was the last-highest profit ever achieved.
In addition to the interim cash dividend of Rs 240 per share that was already paid during the year 2022, the consumer products company has announced a final cash dividend of Rs 95 per share. The price per share for the company’s stock as of Monday is Rs 5,300.
Founded in Pakistan, Nestlé Pakistan Ltd is a public limited business. The company’s main business activities include the production, processing, and distribution of dairy, nutritional, beverage, and food items, including imports. With four production sites spread out across the nation, it has its headquarters in Lahore. Although the factories in Islamabad and Karachi produce water, those in Sheikhupura and Kabirwala produce other products.[/vc_column_text][/vc_column][/vc_row]
