CPPL sees minor profit dip, declares 35% dividend

MG News | August 22, 2024 at 04:11 PM GMT+05:00
August 22, 2024 (MLN): Cherat Packaging Limited (PSX: CPPL) reported a meagre drop of 2.46% YoY in profitability during 2024 as the profit stood at Rs885.89 million [EPS: Rs18.04] compared to Rs908.25mn [EPS: Rs18.5] in 2023.
Along with the results, the company declared a final cash dividend of Rs3.5 per share, i.e. 35%.
Going by the results, the company's top line fell by 16.52% YoY to Rs13.82bn as compared to Rs16.55bn in SPLY.
During the period under review, other income jumped by 936.4% YoY to stand at Rs999.84m in FY24 as compared to Rs95.98m in SPLY.
On the expense side, the company observed a slight increase in distribution costs by 4.63% YoY and administrative expenses by 2.55% YoY to clock in at Rs256.16m and Rs185.41m respectively during the review period.
The company’s finance costs also dipped by 30.3% YoY to stand at Rs837.73m compared to Rs1.2bn in SPLY.
On the tax front, the company paid a significantly lower tax worth Rs152.3m against the Rs755m paid in the corresponding period of last year.
Financial Results for the year ended on June 30, 2024 (Rs “000”) |
|||
---|---|---|---|
2024 |
2023 |
% |
|
Turnover — net |
13,820,153 |
16,554,262 |
-16.52 |
Cost of sales |
-12,358,782 |
-13,277,189 |
-6.92 |
Gross profit |
1,461,371 |
3,277,073 |
-55.41 |
Distribution costs |
-256,168 |
-244,831 |
4.63 |
Administrative expenses |
-185,419 |
-180,802 |
2.55 |
Other expenses |
-133,026 |
-77,182 |
72.35 |
Other Income |
994,847 |
95,984 |
936.47 |
Operating profit |
1,881,605 |
2,870,242 |
-34.44 |
Finance costs |
-837,730 |
-1,201,904 |
-30.30 |
Profit before income tax and final taxes |
1,043,875 |
1,668,338 |
-37.43 |
Final taxes |
-5,599 |
-4,359 |
28.45 |
Profit before income tax |
1,038,276 |
1,663,979 |
-37.60 |
Income tax |
|||
Current |
-180,855 |
-463,765 |
-61.00 |
Prior |
2,635 |
24,553 |
-89.27 |
Deferred |
25,836 |
-316,517 |
-108.16 |
-152,384 |
-755,729 |
-79.84 |
|
Net profit for the year |
885,892 |
908,250 |
-2.46 |
Earnings per share - basic and diluted |
Rs18.04 |
Rs18.50 |
18.50 |
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 163,098.19 607.60M | -0.87% -1432.62 |
ALLSHR | 99,276.25 1,397.26M | -0.80% -801.63 |
KSE30 | 50,184.56 221.88M | -0.89% -450.56 |
KMI30 | 238,333.52 129.55M | -1.13% -2718.46 |
KMIALLSHR | 65,792.54 685.73M | -0.99% -655.65 |
BKTi | 45,653.52 111.72M | -1.00% -461.31 |
OGTi | 32,313.25 10.70M | -1.57% -516.41 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 114,520.00 | 0.00 0.00 | -2470.00 -2.11% |
BRENT CRUDE | 62.09 | 65.36 62.00 | -3.13 -4.80% |
RICHARDS BAY COAL MONTHLY | 81.00 | 81.00 81.00 | -1.60 -1.94% |
ROTTERDAM COAL MONTHLY | 90.50 | 0.00 0.00 | 0.40 0.44% |
USD RBD PALM OLEIN | 1,085.00 | 1,085.00 1,085.00 | 0.00 0.00% |
CRUDE OIL - WTI | 58.24 | 0.00 0.00 | -0.66 -1.12% |
SUGAR #11 WORLD | 16.10 | 16.35 15.97 | -0.16 -0.98% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|