Colgate earns Rs5.1bn in three months
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MG News | October 28, 2024 at 09:37 AM GMT+05:00
October 28, 2024 (MLN): Colgate Palmolive (Pakistan) Limited (PSX: COLG) earned a net profit of Rs5.1 billion [EPS: Rs21.02] during the quarter ending September 2024, up 37.9% from the profit of Rs3.7bn [EPS: Rs15.24] in the same period last year (SPLY).
The company's revenue increased by 8.4% to Rs30bn as compared to Rs27.68bn in SPLY.
Moreover, the cost of sales fell by 0.5%, improving the gross profit by 28.8% to Rs10.8bn in Q1 FY25.
The gross margins rose to 36.0% as compared to 30.3% in SPLY.
During the period under review, other income also rose 41.1% to stand at Rs1.55bn in Q1 FY25 as compared to Rs1.1bn in SPLY.
On the expense side, the company's administrative expenses rose 39.2% from a year ago to Rs348.97m, selling and distribution expenses rose 15.3% to Rs3.15bn, and other operating expenses rose 39.7% to Rs628.8m.
The company’s finance cost inflated by 7.8% and stood at Rs41.65m as compared to Rs38.63m in SPLY, mainly due to higher interest rates.
On the tax front, the company paid a tax expense worth Rs3.07bn against Rs2.31bn paid in the corresponding period of last year.
This translates to an effective tax rate of 37.6% as compared to 38.4% in SPLY.
| Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Sep 24 | Sep 23 | % Change | |
| Sales | 30,003,424 | 27,683,066 | 8.38% |
| Cost of sales | (19,201,219) | (19,296,190) | -0.49% |
| Gross Profit/ (loss) | 10,802,205 | 8,386,876 | 28.80% |
| Administrative Expenses | (348,968) | (250,785) | 39.15% |
| Selling And Distribution Expenses | (3,154,198) | (2,735,210) | 15.32% |
| Other Income | 1,548,171 | 1,097,568 | 41.05% |
| Other Operating Expenses | (628,795) | (450,096) | 39.70% |
| Finance Cost | (41,647) | (38,626) | 7.82% |
| Profit/ (loss) before taxation | 8,176,768 | 6,009,727 | 36.06% |
| Taxation | (3,072,615) | (2,309,183) | 33.06% |
| Net profit/ (loss) for the period | 5,104,153 | 3,700,544 | 37.93% |
| Basic earnings/ (loss) per share | 21.02 | 15.24 | - |
Amount in thousand except for EPS
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