Archroma Pakistan reports Rs356m profit after tax
MG News | January 27, 2025 at 04:27 PM GMT+05:00
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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