Gillette Pakistan swings to loss in Q1FY26
MG News | October 29, 2025 at 04:40 PM GMT+05:00
October 29, 2025 (MLN): Gillette Pakistan Limited (PSX: GLPL) reported a loss after tax of
Rs112.5m for the quarter ended September 30, 2025, a sharp reversal from a
profit of Rs3.84m in the corresponding period last year.
Earning/(loss) per
share stood at Rs3.53 compared to earnings per share of Rs0.12 in SPLY.
Revenue from
contract with customers declined marginally by 0.1% year-on-year to Rs473.8m
from Rs474.1m, reflecting relatively flat sales during the year. Cost of goods
sold increased 25% to Rs399.3m from Rs318.9m.
Gross profit
contracted 52% to Rs74.53m against Rs155.18m, with the gross margin declining
sharply to 15.7% from 32.7% in the prior year, indicating severe margin
compression due to substantially higher production costs.
Selling, marketing
and distribution expenses declined 6% to Rs24.18m from Rs25.83m, while
administrative expenses decreased 40% to Rs25.61m from Rs42.61m. Other
operating expenses surged 6.7 times to Rs82.28m from Rs10.72m last year.
Interest expense
declined 89% to Rs8.05m from Rs70.22m in the previous year, providing
significant relief. Other income declined 89% to Rs2.74m from Rs24.12m in SPLY.
The company
concluded 1QFY26 with a loss for the period of Rs112.5m, delivering a net
profit margin of -23.7% compared to 0.8% in 1QFY25.
The loss was driven
by a dramatic 52% collapse in gross profit due to surging cost of goods sold, a
6.7-fold increase in other operating expenses, and an 89% decline in other
income, which overwhelmed the benefits from substantially lower interest expense
and administrative cost reductions, marking a significant deterioration in
operational performance.
|
STATEMENT
OF PROFIT OR LOSS FOR THE QUARTER ENDED SEPTEMBER 30, 2025 (Rs.000) |
|||
|
Description |
2025 |
2024 |
change% |
|
Revenue
from contract with customers - net |
473,807 |
474,088 |
-0.1% |
|
Cost of
goods sold |
(399,273) |
(318,907) |
25% |
|
Gross
Profit |
74,534 |
155,181 |
-52% |
|
Selling,
marketing and distribution expenses |
(24,180) |
(25,826) |
-6% |
|
Administrative
expenses |
(25,605) |
(42,610) |
-40% |
|
Other
operating expenses |
(82,283) |
(10,716) |
668% |
|
Interest
expense |
(8,045) |
(70,224) |
-89% |
|
Bank
charges |
(508) |
(14) |
3529% |
|
Other
income |
2,740 |
24,123 |
-89% |
|
(Loss)
/ Profit before Income tax and minimum tax differential |
(63,346) |
29,914 |
|
|
Income
tax - net |
(49,169) |
(26,077) |
89% |
|
(Loss)
/ Profit for the period |
(112,515) |
3,837 |
|
|
Earning
per share |
(3.53) |
0.12 |
|
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