Avanceon profit surges to Rs168m
MG News | September 01, 2025 at 10:09 AM GMT+05:00
September 01, 2025 (MLN) : Avanceon Limited (PSX: AVN) shared its
consolidated financial results for the six months ended June 30, 2025,
reporting a profit after tax of Rs168m (EPS: Rs0.38) compared to Rs28m
(EPS: Rs0.01) in the same period last year, which showed a more than
fivefold increase.
Revenues remained
largely stable, slipping marginally by 0.3% to Rs5.24bn against Rs5.26bn
in 1HFY24. Cost of revenue decreased by 0.8% to Rs3.62bn, while
gross profit edged up to Rs1.62bn from Rs1.6bn a year earlier.
Administrative and
selling expenses rose 5.2% to Rs1.32bn, whereas other expenses
dropped significantly to Rs40m from Rs101m. Meanwhile, other
income jumped to Rs162m from Rs23m, providing a notable boost.
As a result, profit
from operations improved to Rs421m, compared to Rs274m recorded
last year.
Finance costs stood at
Rs255m, up nearly 20% YoY. Even so, the company posted a profit before
tax of Rs166m, well above the Rs61m earned in 1HFY24.
After accounting for
taxation of Rs1.6m versus Rs33m last year, net earnings closed at
Rs168m, marking a strong turnaround in profitability.
|
Consolidated Statement of
Profit or Loss For the Half Year Ended June 30, 2025 (Rs.000) |
|||
|
Description |
1HFY25 |
1HFY24 |
Change% |
|
Revenues |
5,237,704 |
5,255,724 |
-0.3% |
|
Cost of revenue |
(3,621,015) |
(3,651,369) |
-0.8% |
|
Gross Profit / (Loss) |
1,616,689 |
1,604,355 |
0.8% |
|
Administrative and
selling expenses |
(1,317,960) |
(1,252,843) |
5.2% |
|
Other expenses |
(39,668) |
(100,565) |
-60.6% |
|
Other income |
162,326 |
22,587 |
618.7% |
|
|
(1,195,302) |
(1,330,820) |
-10.2% |
|
Profit / (Loss) from
operations |
421,387 |
273,535 |
54.1% |
|
Share of profit from a
Joint Venture |
|
|
|
|
Finance costs |
(255,048) |
(212,675) |
19.9% |
|
Profit / (Loss) before
tax |
166,339 |
60,860 |
173.3% |
|
Taxation |
1,654 |
(32,979) |
-105.0% |
|
Profit / (Loss) for the
period |
167,993 |
27,881 |
502.5% |
|
Combined Earning per
share |
|
|
|
|
Basic |
0.38 |
0.01 |
|
|
Diluted |
0.37 |
0.01 |
|
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