Clover Pakistan posts Rs172mn profit, up from Rs8mn loss last year

February 26, 2025 (MLN): Clover Pakistan Limited (PSX: CLOV) reported a net profit of Rs171.77 million [EPS: Rs5.52] for the half-year ended December 31, 2024, compared to a loss of Rs8.27mn [LPS: Rs0.27] in the same period last year.

The company has declared an interim bonus issue of shares in the proportion of 1 share for every 4 shares held, equivalent to 25%.

The company’s revenue surged significantly to Rs2.07 billion, while the cost of sales also rose to Rs1.75bn.

As a result, gross profit grew nearly 39 times to Rs321.08mn.

Administrative and selling expenses increased about 5 times to Rs109.13mn, and other operating expenses jumped around 25 times to Rs13.73mn, impacting overall profitability.

Meanwhile, other income dropped significantly to Rs3,000.

Despite finance costs increasing nearly 48 times, the company posted a profit before taxation and levy of Rs198.12mn, compared to a loss of Rs8.02mn in the previous year.

The company recorded a taxation expense of Rs26.34mn, resulting in a net profit of Rs171.77mn for the period, marking a strong turnaround from the previous year’s loss.

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