Engro Holdings sees 48% drop in nine-month profit

MG News | April 28, 2025 at 04:11 PM GMT+05:00

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April 28, 2025 (MLN): Engro Holdings Limited (PSX: ENGROH) unveiled its consolidated profit and loss statement for the nine months ended March 31, 2025, reporting a total profit after tax of Rs3.98 billion, marking a 48.37% decline from Rs7.71bn recorded in the corresponding period last year.

The profit after tax from continuing operations stood at Rs3.42bn, reflecting a 56.08% decrease compared to Rs7.78bn in 9MFY24.

The company’s revenue dropped by 30.09% year-over-year (YoY) to Rs72.91bn, while the cost of revenue decreased by 32.85% YoY, leading to a gross profit of Rs17.83bn, down 19.96% from the same period last year.

Operating profit declined sharply by 31.13% YoY to Rs12.62bn, impacted by a 13.59% rise in finance costs, which stood at Rs4.6bn.

Other income fell substantially by 43.55% to Rs2.23bn, while other operating expenses slightly decreased by 2.96%.

The company's taxation expenses declined by 31.35% YoY, totaling Rs4.21bn for the nine months.

Profit from discontinued operations showed a strong turnaround, rising by 896.35% YoY and contributing Rs562.69m to the bottom line.

The profit attributable to the owners of the holding company declined by 9.55% YoY to Rs1.77bn, while the non-controlling interest portion dropped significantly by 61.54% YoY to Rs2.21bn.

Earnings per share (EPS) from continuing operations stood at Rs1.71, down 59.29% from Rs4.20 in the previous year, while EPS from discontinued operations declined by 63.70% to Rs1.47.

Consolidated Statement of Profit and Loss For The Nine Month Ended March 31, 2025 (Rupees '000)
Description	Mar-25	Mar-24	%Change
Revenue	72,910,789	104,299,728	-30.09%
Cost of Revenue	(55,084,002)	(82,026,080)	-32.85%
Gross Profit	17,826,787	22,273,648	-19.96%
Selling & Distribution Expenses	(3,357,270)	(3,746,423)	-10.39%
Administrative Expenses	(3,180,654)	(3,267,901)	-2.67%
Other Income	2,225,579	3,942,430	-43.55%
Other Operating Expenses	(900,308)	(927,809)	-2.96%
Gains Allowance on Subsidy Receivable from GoP	10,523	57,783	-81.79%
Operating Profit	12,624,657	18,331,728	-31.13%
Finance Cost	(4,596,156)	(4,046,322)	13.59%
Share of Income from Joint Venture & Associates	684,179	631,038	8.42%
Profit Before Income Tax, Minimum Tax & Final Tax	8,712,680	14,916,444	-41.59%
Minimum Tax & Final Tax	(1,082,991)	(1,001,280)	8.16%
Profit Before Income Tax	7,629,689	13,915,164	-45.17%
Taxation	(4,213,139)	(6,136,726)	-31.35%
Profit from Continuing Operations	3,416,550	7,778,438	-56.08%
Profit / (Loss) from Discontinued Operations	562,688	-70,658	-896.35%
Total Profit for the Period	3,979,238	7,707,780	-48.37%
Attributable to Owners of the Holding Company	1,765,979	1,952,376	-9.55%
Attributable to Non-Controlling Interest	2,213,259	5,755,404	-61.54%
Earnings Per Share - Basic & Diluted
- Continuing Operations	1.71	4.2	-59.29%
- Discontinued Operations	1.47	4.05	-63.70%

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