FCEPL profit jumps to Rs588m

MG News | August 16, 2024 at 09:14 AM GMT+05:00
August 16, 2024 (MLN): Frieslandcampina Engro Foods Limited (PSX: FCEPL) recorded an increase of 75% YoY in its profitability during the second quarter of 2024, earning a profit after tax of Rs587.95 million [EPS: Rs0.76], compared to a profit of Rs335.89m [EPS: Rs0.44] in the same period last year (SPLY).
Going by the results, the company's sales rose 13.1% to Rs27.56bn as compared to Rs24.36bn in SPLY.
The cost of sales rose by 9.4% YoY but was lesser than proportionate to sales rise, which improved the gross profit by 34.7% YoY to Rs4.84bn in Q2 2024.
The gross margins improved to 17.6% as compared to 14.7% in SPLY.
During the period under review, other income marked a decline of 81.4% to stand at Rs138.52m in Q2 2024 as compared to Rs744m in SPLY.
On the expense side, the company's administrative expenses rose 10.4% YoY to Rs469.63m, selling and distribution expenses rose 23.8% YoY to Rs2.35bn, and other operating expenses rose 1.4% YoY to Rs119.21m.
The company’s finance cost rose by 27.9% and stood at Rs1.06bn as compared to Rs831.74m in SPLY, mainly due to higher interest rates.
On the tax front, the company paid a lower tax worth Rs381.15m against the Rs723.6m paid in the corresponding period of last year, depicting a fall of 47.3%.
Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000) | |||
---|---|---|---|
Jun 24 | Jun 23 | % Change | |
Sales | 27,560,144 | 24,363,985 | 13.12% |
Cost of sales | (22,722,448) | (20,772,635) | 9.39% |
Gross Profit/ (loss) | 4,837,696 | 3,591,350 | 34.70% |
Administrative Expenses | (469,625) | (425,227) | 10.44% |
Selling And Distribution Expenses | (2,354,612) | (1,901,381) | 23.84% |
Other Income | 138,522 | 743,999 | -81.38% |
Other Operating Expenses | (119,212) | (117,517) | 1.44% |
Finance Cost | (1,063,674) | (831,735) | 27.89% |
Profit/ (loss) before taxation | 969,095 | 1,059,489 | -8.53% |
Taxation | (381,148) | (723,602) | -47.33% |
Net profit/ (loss) for the period | 587,947 | 335,887 | 75.04% |
Basic earnings/ (loss) per share | 0.76 | 0.44 | - |
Amount in thousand except for EPS
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 |
---|