Clover Pakistan rebounds in Q1

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MG News | October 25, 2024 at 03:44 PM GMT+05:00

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October 25, 2024 (MLN): Clover Pakistan Limited (PSX: CLOV) rebounded in the first quarter of FY25, posting a net profit of Rs87.69 million [EPS: Rs2.82] as its sales rose.

That compares to a loss of Rs2.78m [LPS: Rs0.09] incurred in the same period last year (SPLY).

The company's revenue jumped to Rs825.44m as compared to Rs6.53m in SPLY. Gross profit increased to Rs102.19m in Q1 FY25.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
  Sep 24 Sep 23 % Change
Sales 825,442 6,528 12,544.64%
Cost of sales (723,254) (2,861) 25,179.76%
Gross Profit/ (loss) 102,188 3,667 2,686.69%
Administrative Expenses (4,184) (6,444) -35.07%
Profit/ (loss) before taxation 98,004 (2,777) -
Taxation (10,318) - -
Net profit/ (loss) for the period 87,686 (2,777) -
Basic earnings/ (loss) per share 2.82 (0.09) -

Amount in thousand except for EPS

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