Nestle announces profit of Rs2.57 billion in second quarter

KARACHI: Nestle Pakistan Limited earned a net profit of Rs2.57 billion for the quarter ended June 30, 2021, which is 163 per cent higher than the profit of Rs1.93 billion recorded in the corresponding period of the last year, a bourse filing said on Thursday.

The earnings per share (EPS) for the quarter clocked-in at Rs56.76 as against Rs42.71 last year. The company also declared a cash dividend of Rs115/share along with the financial results.

The revenues for the quarter clocked-in at Rs33.47 billion, up 17.2 per cent, compared with the sales of Rs28.50 billion last year.

Nestle Pakistan’s other income during the second quarter clocked-in at Rs201.80 million, compared with Rs113.60 million previously, while the finance cost declined 45 per cent to Rs999.30 million, compared with Rs1.84 billion last year.

For the half-year ended June 30, 2021, Nestle Pakistan posted a net profit of Rs5.78 billion, translating into the EPS of Rs127.53, compared with the profit of Rs3.87 billion and the EPS of Rs85.47 in the same period of the last year.

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