FCEPL Q3 profit surges, shares jump

MG News | October 18, 2024 at 10:04 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 18, 2024 (MLN): Frieslandcampina Engro Foods Limited (PSX: FCEPL) posted a profit after tax of Rs765.83 million [EPS: Rs1.00] in quarter ending September 2024, up a significant 207.4% from same period last year fueled by better gross margins.

Its shares jumped over 5% during early trade Friday.

The company's top line rose 2.6% to Rs27.49bn as compared to Rs26.8bn in SPLY. Gross profit increased by 17.0% to Rs4.23bn in Q3 2024.

The gross margins rose to 15.4% as compared to 12.7% in SPLY.

During the period under review, other income slid by 62.4% to stand at Rs129.13m in Q3 2024 as compared to Rs343.49m in SPLY.

On the expense side, the company's administrative expenses fell 1.9% from a year ago to Rs482.16m, selling and distribution expenses rose 0.2% to Rs1.78bn, while other operating expenses surged 238.7% to Rs162.97m.

The company’s finance cost dipped by 18.6% and stood at Rs789.53m as compared to Rs970.14m in SPLY.

On the tax front, the company paid a higher tax worth Rs382.38m against the Rs203.21m paid in the corresponding period of last year, depicting an increase of 88.2%.

This translates to an effective tax rate of 33.3% as compared to 43.0% in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	27,488,436	26,803,644	2.55%
Cost of sales	(23,255,371)	(23,185,049)	0.30%
Gross Profit/ (loss)	4,233,065	3,618,595	16.98%
Administrative Expenses	(482,155)	(491,301)	-1.86%
Selling And Distribution Expenses	(1,779,327)	(1,776,119)	0.18%
Other Income	129,127	343,492	-62.41%
Other Operating Expenses	(162,974)	(48,125)	238.65%
Finance Cost	(789,531)	(970,140)	-18.62%
Profit/ (loss) before taxation	1,148,205	472,368	143.07%
Taxation	(382,377)	(203,213)	88.17%
Net profit/ (loss) for the period	765,828	249,155	207.37%
Basic earnings/ (loss) per share	1.00	0.35	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	165,596.07 264.75M	-0.54% -902.76
ALLSHR	100,017.71 623.24M	-0.46% -463.69
KSE30	49,464.92 86.97M	-0.60% -299.08
KMI30	238,952.40 97.00M	-0.58% -1388.16
KMIALLSHR	65,314.16 323.73M	-0.44% -285.47
BKTi	44,788.98 46.84M	-0.77% -347.65
OGTi	35,107.09 7.04M	-0.41% -145.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,165.00	81,895.00 78,675.00	-2455.00 -3.01%
BRENT CRUDE	109.47	109.75 106.26	3.75 3.55%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-2.95 -2.61%
ROTTERDAM COAL MONTHLY	109.00	109.00 108.75	1.25 1.16%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	101.16	101.57 97.23	4.24 4.37%
SUGAR #11 WORLD	14.78	15.07 14.67	-0.21 -1.40%