BF Biosciences reports 28% surge in 1HFY25 profit, reaching Rs196mn

February 28, 2025 (MLN): BF Biosciences Limited (PSX: BFBIO) has reported a significant rise in profitability, with net earnings reaching Rs196 million for the half-year ended December 31, 2024, marking a 28% increase compared to Rs153mn in the same period last year.

The earnings per share (EPS) rose to Rs2.66 from Rs2.42, reflecting the company's robust financial performance.

The company’s revenue surged by 46.4% to Rs2.7billion, compared to Rs2bn in the corresponding period of 2023.

The impressive top-line growth was driven by higher sales volume and improved market penetration.

However, the cost of goods sold increased by 33.4% to Rs1.5bn, resulting in a gross profit of Rs1bn, up by 67.5% from the previous year.

BF Biosciences’ administrative expenses more than doubled to Rs28mn, while selling and distribution expenses saw a sharp rise of 114% to Rs760mn, reflecting increased marketing and expansion efforts.

Other income contributed Rs52mn, a 66% jump from Rs31.4mn in the prior year, providing additional support to the company's earnings.

Despite rising finance costs, which increased by 18% to Rs92.6mn, profit before income tax stood at Rs322.4mn, a 29.4% increase from Rs249mn last year.

The income tax expense climbed by 32% to Rs126.6mn, reducing the overall net profit growth rate.