Clover Pakistan rebounds in Q1

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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