ISLAMABAD: Nestle Pakistan Limited’s gross profit cranked up to Rs120 billion in the first nine months ending September 30, 2022, compared with Rs100 billion in the corresponding period of the previous year.
The operating profit, likewise, registering a 38% increase during the 9MCY22 reached Rs21 billion from Rs15 billion in the corresponding period of CY21.
The before-tax profit pushed up 42% to Rs18 billion in 9MCY22 from Rs12 billion in 9MCY21.
The after-tax profit increased 25% year-on-year to Rs11 billion in 9MCY22 from Rs9 billion in 9MCY21, reports WealthPK.
Position in 2021
During the calendar year 2021, the company’s gross profit increased 16% to Rs40.49 billion from Rs34 billion in 2020.
The company’s operating profit stood at Rs21.57 billion in 2021, up 34% from Rs16.06 billion in 2020, registering an increase of 34%.
The before-tax profit for CY21 stood at Rs17.95 billion, up 43% from Rs12.59 billion in CY20.
The after-tax profit in CY21 jumped to Rs12.76 billion from Rs8.88 billion in CY20, posting an increase of 44% year-on-year.
Earnings Per Share
The earnings per share in 2018 stood at Rs254.57, but dropped to Rs162.17 in 2019, before improving to Rs195.91 in 2020 and reaching the highest point of Rs281.55 in 2021.
Shareholding
As of December 31, 2021, directors, the chief executive officer, their spouses and minor children owned 4.1% of the total shares of the company. Associated companies, undertakings, and related parties owned 81.51% of shares. Institutions, public sector companies and corporations had 1.12% shares, whereas local individuals from the general public owned 12.75% of the shares.
Profit or loss over the years
From 2016 to 2018, operating profit and profit before and after tax showed a mixed but positive trend. From 2019 to 2021, all the three profits continued to increase.
For the past six years, the gross profit and profit before and after tax have all been positive, which is quite encouraging for the business. Overall, the business is profitable and a suitable company to place an investment for a profit.
Company profile
Nestlé Pakistan Limited is a public limited company incorporated in Pakistan under the now repealed Companies Ordinance, 1984 (now Companies Act, 2017). The company is a subsidiary of Nestlé S.A, a Swiss-based public limited company. The company is principally engaged in the manufacturing, processing, and sale of dairy, nutritional, beverages and food products, including imported items.
