FCEPL: Profitability ascends to Rs2.46mn in CY22
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MG News | February 09, 2023 at 11:54 AM GMT+05:00
February 09, 2023 (MLN): The Friesland Campina Engro Pakistan Limited (FCEPL) has disclosed its earnings for the year ended in December 2022, wherein the profit after tax swelled by 36.67% YoY to Rs2.46 billion, as per the notice issued by PSX.
According to the results, the turnover of the company showed an impressive increase of Rs73.47bn, up by 41.04% YoY as compared to Rs52.09bn in the same period last year.
The gross margin of the company in CY22 stood at 16.48% YoY, against 16.96% YoY in SPLY.
On the cost front, distribution and marketing expenses, administrative expenses, and other operating expenses increased by 30.30% YoY, 29.93% YoY, and 41.85% YoY, respectively.
The finance cost of the company also posted a huge increase of 60.18% YoY to clock in at Rs1.38bn.
On the tax side, the company paid Rs1.48bn tax an increase of 91.33% YoY against Rs77.6 million in the corresponding period last year.
|
Consolidated Financial Results for the year ended December 31, 2022 (Rupees) |
|||
|---|---|---|---|
|
|
CY22 |
CY21 |
Change % |
|
Revenue |
73,473,687 |
52,094,197 |
41.04% |
|
Cost of Sales |
-61,365,299 |
-43,256,759 |
41.86% |
|
Gross Profit |
12,108,388 |
8,837,438 |
37.01% |
|
Distribution and marketing expenses |
-5,934,021 |
-4,553,982 |
30.30% |
|
Administrative expenses |
-1,718,343 |
-1,322,508 |
29.93% |
|
Other Operating Expenses |
-446,721 |
-314,934 |
41.85% |
|
Other income |
1,321,478 |
795,749 |
66.07% |
|
Operating profit |
5,330,781 |
3,441,763 |
54.89% |
|
Finance cost |
-1,379,787 |
-861,374 |
60.18% |
|
Profit before taxation |
3,950,994 |
2,580,389 |
53.12% |
|
Taxation |
-1,485,321 |
-776,311 |
91.33% |
|
Profit after taxation |
2,465,673 |
1,804,078 |
36.67% |
|
Earnings per share – basic and diluted (Rupees) |
3.22 |
2.35 |
37.02% |
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