Avanceon sees massive surge in Q1 profit

MG News | May 02, 2025 at 10:02 AM GMT+05:00

0:00

May 02, 2025 (MLN): Avanceon Limited (PSX: AVN) reported its financial results for the first quarter ended March 31, 2025, reporting a profit of Rs271.63 million, reflecting a significant increase of 2,469.59% compared to Rs10.57m in the same period last year.

The company’s basic and diluted earnings per share (EPS) rose to Rs0.64 and Rs0.62 respectively, compared to losses of Rs0.05 and Rs0.04 per share in Q1 2024.

Revenues for the quarter surged by 27.73% to Rs2.52 billion, up from Rs1.97bn in the prior-year period.

The cost of revenue also climbed 20.80% to Rs1.54bn, resulting in a 40.45% increase in gross profit to Rs977.96m.

Administrative and selling expenses increased by 12% to Rs560.56m, while other expenses fell sharply by 94.18% to Rs2.2m.

Other income saw a notable increase of 614.70%, reaching Rs16.09m versus Rs2.25m in the same quarter last year.

Profit from operations jumped 169.24% to Rs431.28m. However, finance costs rose 21.48% to Rs146.69m, putting some pressure on margins. Despite this, the company’s profit before tax surged 621.73% to Rs284.59m.

Taxation expenses dropped by 55.11% to Rs12.96m, further boosting the bottom line.

Profit attributable to equity holders of the holding company stood at Rs266.82m, compared to a loss of Rs19.19m last year, while the portion attributable to non-controlling interest declined 83.83% to Rs4.81m.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE FIRST QUARTER ENDED MARCH 31, 2025 (Rupees in '000)
Category	Mar-25	Mar-24	%Change
Revenues	2,520,851	1,973,544	27.73%
Cost of Revenue	(1,542,895)	(1,277,243)	20.80%
Gross Profit	977,956	696,301	40.45%
Administrative and Selling Expenses	(560,564)	(500,497)	12.00%
Other Expenses	(2,203)	(37,874)	-94.18%
Other Income	16,088	2,251	614.70%
Profit / (Loss) from Operations	431,276	160,182	169.24%
Finance Costs	(146,690)	(120,751)	21.48%
Profit / (Loss) Before Tax	284,586	39,431	621.73%
Taxation	(12,956)	(28,859)	-55.11%
Profit / (Loss) for the Period After Tax	271,631	10,571	2469.59%
Attributable to:
- Equity Holders of the Holding Company	266,818	(19,186)
- Non-Controlling Interest	4,813	29,757	-83.83%
Basic Earnings Per Share (Rs.)	0.64	-0.05
Diluted Earnings Per Share (Rs.)	0.62	-0.04

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