Descon Oxychem reports around 85% YoY profit surge in H1 FY24

MG News | February 19, 2025 at 09:45 AM GMT+05:00

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February 19, 2025 (MLN): Descon Oxychem Limited (PSX: DOL) recorded a significant 84.71% year-on-year (YoY) increase in its profit after tax, reaching Rs495.99 million [EPS: Rs2.83] in the first half of fiscal year 2024, compared to Rs268.52mn [EPS: Rs1.53] in the same period last year (SPLY).

The company has declared an interim cash dividend of Rs2 per share, representing a 20% payout.

The company’s top line grew by 10.13% YoY to Rs3.19 billion from Rs2.90bn in SPLY, driven by improved sales performance.

Additionally, the cost of sales declined by 6.13% YoY, supporting a sharp 74.14% YoY rise in gross profit, which stood at Rs1.02bn.

However, administrative expenses and other operating expenses saw increases of 14.01% and 127.21% YoY, respectively, while other income declined by 60.95% YoY.

Despite this, operating profit surged by 60.47% YoY to Rs783.61mn.

The company also benefited from a substantial 62.06% YoY reduction in finance costs, which contributed to a 63.80% YoY rise in profit before levy and taxation, amounting to Rs778.71mn.

On the taxation front, the company paid Rs282.72mn, marking a 37.64% increase from the previous year.

Consolidated Profit and Loss For The Period Ended December 31 , 3024
	Dec-24	Dec-23	%Change
Sales	3,196,978	2,902,833	10.13%
Cost of Sales	(2,172,956)	(2,314,801)	-6.13%
Gross Profit	1,024,022	588,032	74.14%
Administrative Expenses	(113,534)	(99,581)	14.01%
Distribution & Selling Costs	(92,705)	(91,027)	1.84%
Other Income	49,947	127,909	-60.95%
Other Operating Expenses	(84,116)	(37,021)	127.21%
Total Operating Expenses	(240,408)	(99,720)	141.08%
Operating Profit	783,614	488,312	60.47%
Finance Cost	(4,900)	(12,915)	-62.06%
Profit Before Levy & Taxation	778,714	475,397	63.80%
Levy / Final Taxation	-	(1,473)
Profit Before Taxation	778,714	473,924	64.31%
Taxation	(282,724)	(205,401)	37.64%
Net Profit for the Period	495,990	268,523	84.71%
Earnings per Share - Basic & Diluted	2.83	1.53	84.97%

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