October 02, 2024 (MLN): Citi Pharma Ltd. (PSX: CPHL) earned a net profit of Rs833.46 million in the financial year 2024, translating into earnings per share (EPS) of Rs3.65.
That is up 26.7% from the profit of Rs657.98m [EPS: Rs2.88] recorded in FY23. The increase was in part led by higher margins and other income.
Along with the results, the company announced a final cash dividend of Rs3.25 per share, i.e. 32.5%.
Going by the results, the company's revenue remained largely stable at Rs12.41bn while the cost of sales inched down by 0.6%.
The gross profit improved by 5.3% to Rs1.59bn in FY24. Gross margins rose to 12.8% as compared to 12.2% in SPLY.
During the period under review, other income jumped 67.6% to stand at Rs489.67m in FY24 as compared to Rs292.22m last year.
On the expense side, the company's administrative expenses rose 8.4% from last year to Rs204.14m, selling and distribution expenses rose 16.7% to Rs176.41m, while other operating expenses fell 1.7% to Rs114.2m.
The company’s finance cost decreased by 22.4% and stood at Rs299.91m as compared to Rs386.23m in FY23.
On the tax front, the company paid a higher tax worth Rs447.74m against the Rs299.27m paid in the corresponding period of last year, depicting an increase of 49.6%.
This translates to an effective tax rate of 34.9% as compared to 31.3% in FY23.
| Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Jun 24 | Jun 23 | % Change | |
| Sales | 12,409,239 | 12,396,983 | 0.10% |
| Cost of sales | (10,823,044) | (10,889,870) | -0.61% |
| Gross Profit/ (loss) | 1,586,195 | 1,507,113 | 5.25% |
| Administrative Expenses | (204,141) | (188,414) | 8.35% |
| Selling And Distribution Expenses | (176,413) | (151,222) | 16.66% |
| Other Income | 489,667 | 292,221 | 67.57% |
| Other Operating Expenses | (114,201) | (116,211) | -1.73% |
| Finance Cost | (299,906) | (386,234) | -22.35% |
| Profit/ (loss) before taxation | 1,281,202 | 957,254 | 33.84% |
| Taxation | (447,738) | (299,270) | 49.61% |
| Net profit/ (loss) for the period | 833,464 | 657,984 | 26.67% |
| Basic earnings/ (loss) per share | 3.65 | 2.88 | – |
Amount in thousand except for EPS
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Posted on: 2024-10-02T09:22:17+05:00
