COLG net profits reach Rs7.19bn in 9MFY23, up by 55.3% YoY
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MG News | April 20, 2023 at 02:48 PM GMT+05:00
April 20, 2023 (MLN): Colgate-Palmolive Pakistan Limited (PSX: COLG) has unveiled its financial performance for the nine months period ended March 31, 2023 today wherein the company reported 55.3% YoY net profits worth Rs7.19 billion [EPS: Rs58.26] against the profits of Rs4.63bn [EPS: Rs38.17] reaped in the same period last year.
The company’s top line grew by 47% YoY to clock in at Rs66.14bn, as compared to Rs44.98bn in the same period last year.
The proportionally lower increase in the cost of sales helped the company achieve a 3.82% YoY higher gross margin.
The company continued to support its brands through media and promotional activities, thus selling and distribution costs went up by 37.7% YoY. Administrative expenses also increased by 27.3% YoY to Rs667mn in the review period.
Moreover, the company also witnessed a rise in its finance cost and tax payments by 6.1% YoY and 90.2% YoY respectively to stand at Rs111.81 million and Rs3.48bn, which put a limit on the company’s profitability.
|
Profit and Loss Account for the nine months period ended March 31, 2023 (Rs'000) |
|||
|---|---|---|---|
|
|
Mar-23 |
Mar-22 |
% Change |
|
Turnover |
86,386,476 |
59,613,953 |
44.9% |
|
Sales Tax |
(13,613,832) |
(9,409,490) |
44.7% |
|
Trade and other discounts |
(6,631,526) |
(5,220,475) |
27.0% |
|
Net turnover |
66,141,118 |
44,983,988 |
47.0% |
|
Cost of Sales |
(47,983,935) |
(33,089,383) |
45.0% |
|
Gross profit |
18,157,183 |
11,894,605 |
52.7% |
|
Selling and distribution costs |
(6,904,999) |
(5,016,109) |
37.7% |
|
Administrative Expenses |
(667,055) |
(524,163) |
27.3% |
|
Other expenses |
(1,042,575) |
(586,676) |
77.7% |
|
Other income |
1,244,553 |
801,432 |
55.3% |
|
Profit from operations |
10,787,107 |
6,569,089 |
64.2% |
|
Finance cost and bank charges |
(111,818) |
(105,352) |
6.1% |
|
Profit before taxation |
10,675,289 |
6,463,737 |
65.2% |
|
Taxation |
(3,481,998) |
(1,830,451) |
90.2% |
|
Profit after taxation |
7,193,291 |
4,633,286 |
55.3% |
|
Earning per share -Basic and Diluted |
59.26 |
38.17 |
55.3% |
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