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.
| Financial Results For the Nine Month Ended March 31, 2025 (Rupees in '000) | |||
| Particulars | Mar-25 | Mar-24 | %Change |
| Turnover – net | 28,980,724 | 32,885,082 | -11.87% |
| Cost of sales | (26,797,760) | (29,599,121) | -9.46% |
| Gross profit | 2,182,964 | 3,285,961 | -33.57% |
| General and administrative expenses | (781,449) | (724,108) | 7.92% |
| Selling expenses | (84,162) | (76,568) | 9.92% |
| Distribution expenses | (162,532) | (148,615) | 9.36% |
| Other operating charges | (38,009) | (101,785) | -62.66% |
| – Workers' Profit Participation Fund | (7,433) | (58,859) | -87.37% |
| – Workers' Welfare Fund | (2,825) | (22,367) | -87.37% |
| – Others | (27,751) | (20,559) | 34.98% |
| Other income | 338,409 | 240,698 | 40.59% |
| Operating profit | 1,455,221 | 2,481,583 | -41.36% |
| Finance cost | (1,317,013) | (1,385,621) | -4.95% |
| Profit before income tax and levy | 138,208 | 1,095,962 | -87.39% |
| Levy – Minimum tax differential | (344,442) | (128,305) | 168.46% |
| Profit before income tax | (206,234) | 967,657 | |
| Taxation | |||
| – Current | (61,026) | (392,354) | -84.45% |
| – Prior | (7,655) | ||
| – Deferred | 344,650 | 93,234 | 269.66% |
| Profit for the period | 69,735 | 668,536 | -89.57% |
| Earnings per share – basic and diluted (Rs.) | 0.17 | 1.66 | -89.76% |
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Posted on: 2025-04-28T10:52:09+05:00
