Colgate earns Rs5.1bn in three months

MG News | October 28, 2024 at 09:37 AM GMT+05:00

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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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