Nestlé Pakistan Ltd said its fourth-quarter normalized net income amounted to 40.15 Pakistani rupees per share, an increase of 24.6% from 32.22 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.82 billion rupees, an increase of 24.6% from 1.46 billion rupees in the year-earlier period.

The normalized profit margin rose to 7.1% from 6.6% in the year-earlier period.

Total revenue grew 16.4% on an annual basis to 25.79 billion rupees from 22.16 billion rupees, and total operating expenses increased 14.9% from the prior-year period to 22.46 billion rupees from 19.55 billion rupees.

Reported net income decreased 29.3% year over year to 1.08 billion rupees, or 23.78 rupees per share, from 1.52 billion rupees, or 33.62 rupees per share.

For the year, the company's normalized net income totaled 185.76 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 389.20 rupees.

EPS rose 16.1% from 159.96 rupees in the prior year.

Normalized net income was 8.42 billion rupees, a rise of 16.1% from 7.25 billion rupees in the prior year.

Full-year total revenue increased 6.8% on an annual basis to 102.99 billion rupees from 96.46 billion rupees, and total operating expenses increased 5.5% on an annual basis to 87.78 billion rupees from 83.22 billion rupees.

The company said reported net income grew 10.5% on an annual basis to 8.76 billion rupees, or 193.18 rupees per share, in the full year, from 7.93 billion rupees, or 174.85 rupees per share.

As of March 30, US$1 was equivalent to 104.72 Pakistani rupees.