AGIL reports reduced loss of around Rs56mn

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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