Abbott Pakistan’s quarterly earnings leap with revenue growth
 LIMITED (2).png)
MG News | October 25, 2024 at 03:35 PM GMT+05:00
October 25, 2024 (MLN): Abbot Laboratories (Pakistan) Limited (PSX: ABOT) reported its third-quarter earnings, wherein the profit after tax clocked in at Rs1.81 billion [EPS: Rs18.48].
This shows a massive improvement as in the same quarter last year, the company earned just Rs6.67m [EPS: Rs0.07].
An analysis of the profit and loss statement reveals that robust revenue growth, coupled with minimal changes in selling costs, contributed to this exceptional performance.
ABOT's top line expanded 24.2% to Rs17.36bn as compared to Rs13.98bn in SPLY.
The cost of sales rose by a modest 1.1%, which, along with sales growth, boosted gross profit by 129.6% to Rs5.76bn in Q3 CY24.
The gross margins improved to 33.2% as compared to 18% in SPLY.
During the period under review, other income deflated by 51.6% to stand at Rs83m in Q3 CY24 as compared to Rs171.53m in SPLY.
On the expense side, the company's administration expenses rose 16.6% YoY to Rs300.48m, distribution and selling expenses increased 16.4% YoY to Rs2.4bn, while other operating expenses surged 1300.3% YoY to Rs281.01m.
The company’s finance cost deflated by 15.6% and stood at Rs5.99m as compared to Rs7.09m in SPLY.
On the tax front, the company paid a higher tax worth Rs1.04bn against the Rs323.1m paid in the corresponding period of last year, depicting an increase of 222.7%.
| Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Sep 24 | Sep 23 | % Change | |
| Sales | 17,364,546 | 13,981,908 | 24.19% |
| Cost of sales | (11,603,412) | (11,472,137) | 1.14% |
| Gross Profit/ (loss) | 5,761,134 | 2,509,771 | 129.55% |
| Administration expenses | (300,482) | (257,801) | 16.56% |
| Distribution and selling expenses | (2,404,851) | (2,066,577) | 16.37% |
| Other Income | 83,003 | 171,533 | -51.61% |
| Other Operating Expenses | (281,009) | (20,068) | 1300.28% |
| Finance costs | (5,988) | (7,092) | -15.57% |
| Profit/ (loss) before taxation | 2,851,807 | 329,766 | 764.80% |
| Final tax / levies | (1,042,664) | (323,095) | 222.71% |
| Net profit/ (loss) for the period | 1,809,143 | 6,671 | 27019.52% |
| Basic earnings/ (loss) per share | 18.48 | 0.07 | - |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
.png)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
| ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
| KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
| KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
| KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
| BKTi | 37,831.34 13.04M | 1.62% 603.62 |
| OGTi | 27,440.63 3.93M | -0.09% -23.70 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 117,860.00 | 119,740.00 116,460.00 | -435.00 -0.37% |
| BRENT CRUDE | 73.52 | 73.63 71.75 | 1.01 1.39% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 70.37 | 70.51 68.45 | 1.16 1.68% |
| SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|