Century Paper & Board's profit plunges by 89% in nine-month results

April 28, 2025 (MLN): Century Paper & Board Mills Limited (PSX: CEPB) has reported a sharp decline of 89.57% in its net profit, which stood at Rs69.7 million for the nine-month period ended March 31, 2025, compared to Rs668.5m in the same period last year.

The company’s turnover decreased by 11.87%, falling to Rs28.98 billion from Rs32.89bn in the previous period, primarily due to a 9.46% reduction in the cost of sales, which amounted to Rs26.8bn.

As a result, the gross profit dropped by 33.57%, amounting to Rs2.18bn, compared to Rs3.29bn last year.

General and administrative expenses saw a 7.92% increase, while selling and distribution expenses rose by 9.92% and 9.36%, respectively.

Despite a 40.59% rise in other income, operating profit declined by 41.36%, totaling Rs1.46bn. Finance costs decreased slightly by 4.95% to Rs1.32bn, but the decline in profitability continued.

Profit before income tax and levy plummeted by 87.39% to Rs138.2m, while profit before income tax stood at a loss of Rs206.23m, reflecting a sharp decline of 121.31% from the previous period.

The company's tax burden eased with current tax dropping by 84.45% to Rs61.03m, while deferred tax showed a significant increase of 269.66%, amounting to Rs344.65m.

Earnings per share (EPS) for the period stood at Rs0.17, reflecting an 89.76% decrease from Rs1.66 in the same period last year.

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