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Archroma Pakistan posts a 44% YoY rise in net profits in first quarter

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January 28, 2021 (MLN): Archroma Pakistan Limited (ARPL) has unveiled its financial results for the first quarter ended December 31, 2020, as per which the company has posted its profit after tax of Rs 479 million (EPS: Rs 14.06) i.e. nearly 44% higher than the net profits of Rs 333 million (EPS: Rs 9.77) of the corresponding period last year.

During the period, the increase in earnings seen in the financial results below is a result of higher volumetric sales, up by 10.14%, despite a 5.07% increase in the cost of goods sold, expanding gross margins from 27% to 30%.

On the cost front, the distribution and administrative expenses jumped by 5.5% and 9.2%, YoY respectively, while the company bore no impairment loss during the first quarter that supported the financial stability of ARPL.

Furthermore, an 85% increase in other income and a significant drop in finance cost by 71.1% YoY amid a lower interest regime lifted the bottom-line.

Meanwhile, the tax expenses of the company went up by 2.04 times YoY during the period.

Financial Results for the first quarter ended December 31, 2020 ('000 Rupees)

 

Dec-20

Dec-19

% Change

Net sales

 5,100,296

 4,630,645

10.14%

Cost of goods sold

 (3,573,642)

 (3,401,286)

5.07%

Gross profit

 1,526,654

 1,229,359

24.18%

Distribution and marketing expenses

 (513,509)

 (486,663)

5.52%

Administrative expenses

 (157,804)

 (144,468)

9.23%

Impairment loss

 –

 (2,442)

Other expenses

 (61,256)

 (37,922)

61.53%

Other income

 16,844

 9,087

85.36%

Finance cost

 (24,150)

 (83,515)

-71.08%

Profit before taxation

 786,779

 483,436

62.75%

Taxation – net

 (307,069)

 (149,994)

104.72%

Profit after taxation

 479,710

 333,442

43.87%

Earnings per share – basic and diluted (Rupees)

 14.06

 9.77

43.91%

 

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Posted on: 2021-01-28T16:40:00+05:00

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