AGIL reports reduced loss of around Rs56mn
MG News | February 18, 2025 at 02:54 PM GMT+05:00
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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