CLOV turns in strong quarterly performance with Rs212m profit

MG News | April 21, 2025 at 02:39 PM GMT+05:00

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April 21, 2025 (MLN): Clover Pakistan Limited (PSX: CLOV) reported a net profit of Rs212.27 million [EPS: Rs5.45] for the quarter ended March 31, 2025, reflecting a strong 172% year-on-year (YoY) increase from Rs78.12m [EPS: Rs2.01] recorded in the same period last year.

The company’s revenue grew significantly by 79.47% to Rs2.63 billion, while the cost of sales also rose by 68.31% to Rs2.26bn.

As a result, gross profit surged nearly threefold to Rs373.75m.

Administrative and selling expenses jumped more than sevenfold to Rs118.87m, and other operating expenses soared to Rs15.98m from just Rs0.54m in the same quarter last year.

Meanwhile, other income dropped sharply to Rs12 from Rs2.54m.

Despite rising expenses, Clover Pakistan posted an operating profit of Rs254.89m, up 132.41% YoY.

After accounting for minimal finance costs, profit before taxation reached Rs238.67m.

Following a taxation expense of Rs26.41m, the company’s bottom line showed robust improvement, with net profit standing at Rs212.27m for the period.

CONDENSED CONSOLIDATED INTERIM STATEMENT OF PROFIT OR LOSS (Rupees '000')
	Mar-25	Mar-24	%Change
Revenue - net	2,632,609	1,466,881	79.47%
Cost of sales	(2,258,856)	(1,342,047)	68.31%
Gross profit	373,753	124,834	199.40%
Administrative & selling expenses	(118,865)	(15,161)	684.02%
Operating profit/ (loss)	254,888	109,673	132.41%
Other operating expenses	(15,979)	(540)	2859.07%
Other income	12	2,544	-99.53%
	238,921	111,677	113.94%
Finance cost	(249)
Profit/(Loss) before taxation	238,672	111,677	113.72%
Taxation	(26,406)	(33,560)	-21.32%
Profit/(Loss) for the period	212,266	78,117	171.73%
Profit/(Loss) per Shares basis and diluted	5.45	2.01	171.14%

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