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Nestlé Pakistan Q1 profit climbs 55.9% YOY

Nestlé Pakistan Ltd said its normalized net income for the first quarter came to 71.98 Pakistani rupees per share, a gain of 56.0% from 46.15 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 3.26 billion rupees, a gain of 55.9% from 2.09 billion rupees in the year-earlier period.

The normalized profit margin increased to 12.9% from 8.7% in the year-earlier period.

Total revenue grew 5.6% year over year to 25.34 billion rupees from 24.00 billion rupees, and total operating expenses declined from the prior-year period to 19.74 billion rupees from 20.57 billion rupees.

Reported net income rose 76.7% from the prior-year period to 3.67 billion rupees, or 81.01 rupees per share, from 2.08 billion rupees, or 45.83 rupees per share.

As of May 8, US$1 was equivalent to 101.71 Pakistani rupees.