AGIL reports reduced loss of around Rs56mn

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MG News | February 18, 2025 at 02:54 PM GMT+05:00

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February 18, 2025 (MLN): Agriautos Industries Limited (PSX: AGIL) reported a loss after tax of Rs55.76 million [LPS: Rs1.55] for the year ended December 31, 2024, a significant improvement compared to a loss of Rs176.99mn [LPS: Rs4.92] in the same period last year (SPLY).

Despite the loss, the company saw positive growth in revenue and gross profit.

Turnover rose by 38.46%, reaching Rs4.68 billion, compared to Rs3.38bn in SPLY.

The company’s gross profit surged 158.94%, amounting to Rs351.93mn, up from Rs135.91mn in the previous year.

However, on the expense side, distribution and marketing expenses increased by 32.71% to Rs86.13mn, while administrative expenses grew by 6.48% to Rs204.68mn.

Finance costs more than doubled, rising by 84.17% to Rs120.19mn, due to higher borrowing costs.

The company's other income jumped 127.64% to Rs55.29mn, compared to Rs24.29mn in SPLY.

However, the loss before income tax improved by 61% to Rs86.75mn, compared to Rs222.47mn last year.

The company also paid a higher tax of Rs30.99mn, down 31.85% from Rs45.48mn in SPLY.

Consolidated Profit and Loss For The Period Ended December 31,2024 (Rupees in '000)
Description Dec-24 Dec-23 %Change
Turnover - net 4,680,371 3,380,267 38.46%
Cost of sales (4,328,446) (3,244,355) 33.41%
Gross profit / (loss) 351,925 135,912 158.94%
Distribution and marketing expenses (86,128) (64,901) 32.71%
Administrative expenses (204,679) (192,226) 6.48%
Finance costs (120,191) (65,262) 84.17%
Other expenses (21,276) (17,410) 22.21%
Other income 55,293 24,290 127.64%
(Loss) / income before levies and taxation (25,054) (179,597) -86.05%
Levies (minimum tax and final tax) (61,700) (42,874) 43.91%
Loss before income tax (86,754) (222,471) -61.00%
Taxation 30,995 45,481 -31.85%
(Loss) / profit after taxation (55,759) (176,990) -68.50%
(Loss) / earnings per share - basic and diluted (1.55) (4.92) -68.50%

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