KARACHI: Sales of Nestle Pakistan Limited (NPL) increased by 23.4 per cent to Rs200 billion in 2023 from Rs162.5bn in 2022. However, the profit-after-tax (PAT) marginally climbed to Rs16.5bn from Rs15bn.

The company said that despite several external challenges, a focus on innovation and renovation and ensuring product availability, supported by investments behind the brands, helped in the revenue boost. Growth was broad-based across the product portfolio.

Engro Corp earns Rs66bn

On a consolidated basis, Engro Corporation’s profitability grew by 35pc to Rs482bn in 2023. The consolidated PAT increased 43pc to Rs66bn versus Rs46bn last year, recording earnings per share of Rs63.01.

However, after incorporating the accounting impact due to the remeasurement of thermal energy assets, the consolidated PAT stood at Rs36bn with an EPS of Rs38.60 in 2023. It announced a final cash dividend of Rs2 per share.

PPL income surges

Pakistan Petroleum Ltd (PPL) announced a 45pc surge in its PAT to Rs69.7bn during the half year ended on Dec 31, 2023 from Rs48bn in the same period last year. The company in a statement said revenues from contracts soared to Rs151bn during July-December 2023 from Rs138bn in the same period last year.

DGKC profit rises

DG Khan Cement on Monday announced that its PAT rose 19pc to Rs2.1bn in the first half of the current fiscal year from Rs1.76bn in the corresponding period last year. Sales revenue soared to Rs37.3bn from Rs32.5bn a year ago.

Published in Dawn, February 27th, 2024

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