Citi Pharma profit more than doubles
MG News | October 30, 2024 at 09:56 AM GMT+05:00
October 30, 2024 (MLN): Citi Pharma Ltd. (PSX: CPHL) recorded a 113.3% higher net profit in the first quarter of FY25 as its margins jumped.
The company earned a profit after tax of Rs201.5 million [EPS: Rs0.88] during the quarter ending September 2024, compared to Rs94.45m [EPS: Rs0.41] in the same period last year (SPLY).
Revenue expanded 19.4% to Rs3.22bn as compared to Rs2.7bn in SPLY. Gross profit surged 73.9% to Rs428.51m in Q1 FY25.
The gross margins improved to 13.3% as compared to 9.1% in SPLY.
During the period under review, other income shrank 13.2% to stand at Rs92.22m in Q1 FY25 as compared to Rs106.21m in SPLY.
On the expense side, the company's administrative expenses fell 3.9% from a year ago to Rs46.4m, selling and distribution expenses rose 5.3% to Rs40.7m, and other operating expenses rose 133.1% to Rs28.77m.
The company’s finance cost down by 25.6% and stood at Rs64.57m as compared to Rs86.81m in SPLY.
On the tax front, the company paid a higher tax worth Rs138.8m against an expense paid worth Rs72.17m in the corresponding period of last year, a rise of 92.3%.
This translates to an effective tax rate of 40.8% as compared to 43.3% in SPLY.
| Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Sep 24 | Sep 23 | % Change | |
| Sales | 3,224,645 | 2,701,228 | 19.38% |
| Cost of sales | (2,796,132) | (2,454,760) | 13.91% |
| Gross Profit/ (loss) | 428,513 | 246,468 | 73.86% |
| Administrative Expenses | (46,397) | (48,263) | -3.87% |
| Selling And Distribution Expenses | (40,696) | (38,634) | 5.34% |
| Other Income | 92,222 | 106,208 | -13.17% |
| Other Operating Expenses | (28,771) | (12,345) | 133.06% |
| Finance Cost | (64,574) | (86,808) | -25.61% |
| Profit/ (loss) before taxation | 340,298 | 166,626 | 104.23% |
| Taxation | (138,801) | (72,175) | 92.31% |
| Net profit/ (loss) for the period | 201,497 | 94,452 | 113.33% |
| Basic earnings/ (loss) per share | 0.88 | 0.41 | - |
Amount in thousand except for EPS
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