Nestlé Pakistan announces financial results for Q1

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Observer Report
Lahore

Nestlé Pakistan Limited posted a revenue of PKR 32.3 billion for the three months period ended 31 March 2021, an increase of 8.2% compared to the same period last year, despite many difficulties emanating from the Covid-19 crisis.

These results were announced following a Board of Directors’ meeting at the Company’s Head Office.

The growth was driven by volume increase and pricing management and benefitted from the improvement in the macro-economic situation of the country.

Operating profit of the company improved compared to the same period of last year due to various cost savings initiatives across the value chain and better absorption of fixed overheads.

Net profit for the quarter also improved due to lower financing cost owing to reduction in the policy rate.

Despite the ongoing third wave of Covid-19 and smart lock down across the country.