Calcorp bottom line plummets 42% in Q3

October 29, 2024 (MLN): Calcorp Limited (PSX: CASH) experienced a fall of 41.7% YoY in its earnings for the third quarter, reporting a profit after tax of Rs4.05 billion [EPS: Rs0.38], compared to Rs6.95bn [EPS: Rs0.65] earned in the same period last year (SPLY).

According to the results, the company's total Income, which includes net income from vehicles plying for hire and return on investments, dipped by 29.9% to Rs 9.45 billion in Q3 CY24.

Net income from vehicles plying for hire was recorded at Rs 4.1 billion, while return on investments stood at Rs 5.34 billion, with both figures reflecting a decline.

On the expense side, the company's administrative and operating expenses fell 11.5% YoY to Rs3.29bn.

The company’s also finance cost contracted by 83.3% and stood at Rs0.09m as compared to Rs0.51m in SPLY.

On the tax front, the company paid a lower tax worth Rs2.11bn against the Rs2.81bn paid in the corresponding period of last year, depicting a fall of 24.9%.

Nonetheless, the drop in income from both sections resulted in lower profits for the company.

Amount in thousand except for EPS

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