Agriauto Industries suffers Rs84m loss in three months

News Image

MG News | September 06, 2024 at 11:46 AM GMT+05:00

0:00

September 06, 2024 (MLN): Agriautos Industries Limited (PSX: AGIL) incurred a loss after tax of Rs84.11 million [LPS: Rs2.34] in the April-June quarter, a stark contrast compared to a profit of Rs56.67m [EPS: Rs1.57] in the same period last year (SPLY).

The loss comes despite a jump in sales revenue and improved gross profit.

The company's sales rose 45.7% to Rs1.84bn as compared to Rs1.26bn in SPLY. The gross profit surged 1,121% to Rs73.44m in Q4 FY24.

The gross margins improved substantially to 4.0% as compared to 0.5% in SPLY.

Meanwhile, the company's other income decreased by 72.8% to stand at Rs5.9m in Q4 FY24 as compared to Rs21.67m in SPLY.

On the expense side, the company's administrative expenses rose 34.3% from a year ago to Rs70.16m, and selling and distribution expenses surged 498.8% to Rs31.08m.

The company also incurred finance costs worth Rs49.53m as compared to a fiance income of Rs50.22m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs12.26m against the tax credit worth Rs42.07m received in the corresponding period of last year, depicting an increase of .

This translates to an effective tax rate of 17.1%.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 1,841,635 1,264,197 45.68%
Cost of sales (1,768,195) (1,258,182) 40.54%
Gross Profit/ (loss) 73,440 6,015 1120.95%
Administrative Expenses (70,155) (52,258) 34.25%
Selling And Distribution Expenses (31,080) (5,190) 498.84%
Other Income 5,900 21,667 -72.77%
Other Operating Expenses (428) (5,853) -92.69%
Finance Cost (49,528) 50,217 -
Profit/ (loss) before taxation (71,851) 14,598 -
Taxation (12,256) 42,073 -
Net profit/ (loss) for the period (84,107) 56,671 -
Basic earnings/ (loss) per share (2.34) 1.57 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 158,465.06
390.15M
-1.02%
-1635.97
ALLSHR 96,559.16
950.27M
-0.99%
-966.38
KSE30 48,334.92
161.42M
-1.07%
-524.48
KMI30 229,055.35
110.24M
-1.35%
-3133.53
KMIALLSHR 63,239.37
426.71M
-1.12%
-719.42
BKTi 44,632.28
59.89M
-0.70%
-315.76
OGTi 31,295.76
12.54M
-0.78%
-245.37
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 112,985.00 113,775.00
112,135.00
-760.00
-0.67%
BRENT CRUDE 64.72 64.83
63.92
0.32
0.50%
RICHARDS BAY COAL MONTHLY 80.50 0.00
0.00
-0.55
-0.68%
ROTTERDAM COAL MONTHLY 92.50 0.00
0.00
-0.20
-0.22%
USD RBD PALM OLEIN 1,082.50 1,082.50
1,082.50
0.00
0.00%
CRUDE OIL - WTI 60.36 60.52
59.70
0.21
0.35%
SUGAR #11 WORLD 14.28 14.45
14.21
-0.09
-0.63%

Chart of the Day


Latest News
October 29, 2025 at 06:00 PM GMT+05:00

Govt accelerates cashless transition


October 29, 2025 at 04:48 PM GMT+05:00

Abbott Pakistan profit surges 36% to Rs5bn in 9MCY25


October 29, 2025 at 04:45 PM GMT+05:00

SBP Raises Rs1.34tr in dual auctions of MTBs, PIB-FR


October 29, 2025 at 04:40 PM GMT+05:00

Gillette Pakistan swings to loss in Q1FY26



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg