Archroma Pakistan reports Rs356m profit after tax

MG News | January 27, 2025 at 04:27 PM GMT+05:00

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January 27, 2025 (MLN): Archroma Pakistan Limited (PSX: ARPL) recorded a profit after tax of Rs356.05 million [EPS: Rs10.30] in this quarter compared to a loss of Rs104.14m [LPS: Rs3.01] in the same period last year (SPLY).

Going by the results, the company's top line contracted by 0.22% YoY to Rs7.21bn as compared to Rs7.23bn in SPLY.

The cost of sales fell by 5.01% YoY, which improved the gross profit by 20.4% YoY to Rs1.64bn.

During the review period, other income inflated by 50.2% YoY to stand at Rs42.65m in 3QFY24 as compared to Rs28.4m in SPLY.

On the expense side, the company observed an increase in distribution and marketing expenses by 3.8% YoY while other expenses rose by 1536.04% YoY to clock in at Rs862.15m and Rs37.3m respectively during the review period.

The company’s finance costs plummeted by 67.36% YoY and stood at Rs114.19m as compared to Rs349.8m in previous year, mainly due to higher interest rates.

On the tax front, the company achieved a tax reversal, reducing its tax liability to Rs34.57m from Rs3.83m in the corresponding period of last year, reflecting an increase of 801.54% YoY.

Financial Results for the quarter ended December 31, 2024 ('000 Rupees)
	Dec-24	Dec-23	% Change
Net sales	7,217,183	7,233,238	-0.22%
Cost of goods sold	(5,576,593)	(5,870,641)	-5.01%
Gross profit	1,640,590	1,362,597	20.40%
Distribution and marketing expenses	(862,158)	(830,605)	3.80%
Administrative expenses	(254,990)	(229,551)	11.08%
Impairment loss	(994)	(3,313)	-
Other expenses	(37,318)	(2,281)	1536.04%
Other income	42,658	28,401	50.20%
Finance cost	(114,188)	(349,810)	-67.36%
Profit before taxation	321,480	(107,979)	-397.72%
Taxation (reversal)	34,574	3,835	801.54%
Profit after taxation	356,054	(104,144)	-441.89%
Earnings per share - basic and diluted (Rupees)	10.30	(3.01)	-442.19%

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