Ferozsons’ growth slows, profit dips to Rs252m in first half

MG News | February 28, 2025 at 02:28 PM GMT+05:00

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February 28, 2025 (MLN): Ferozsons Laboratories Limited (PSX: FEROZ) reported a 1.84% YoY decline in its after-tax profit for the half-year ended December 31, 2024, clocking in at Rs252.33 million [EPS: Rs5.80] compared to Rs257.05m [EPS: Rs5.91] in the same period last year (SPLY).

Despite a 4.66% YoY increase in revenue, reaching Rs7.02bn from Rs6.71bn in SPLY, the company's gross profit improved by 11.09% YoY to Rs2.77bn due to a relatively lower 1.07% increase in the cost of sales.

However, administrative expenses surged by 17.91% YoY to Rs423.92m, while selling and distribution expenses saw a significant 44.48% YoY rise, reaching Rs1.66bn.

Other expenses decreased by 52.67% YoY, standing at Rs64.54m, while other income dropped by 35.12% YoY to Rs75.65m.

The company's profitability was further impacted by a 52.54% YoY rise in finance costs, which stood at Rs275.78m.

As a result, profit before taxation stood at Rs400.16m, reflecting a 7.48% YoY increase.

The company's tax expenses rose by 28.29% YoY, amounting to Rs147.83m, further weighing on the bottom line.

Financial Result For The Period Ended December 31, 2024 (Rupees)
Particulars	Dec-24	Dec-23	% Change
Revenue - net	7,023,685,165	6,710,877,978	4.66%
Cost of sales	(4,265,982,079)	(4,220,747,657)	1.07%
Gross profit	2,766,703,086	2,490,130,321	11.09%
Administrative expenses	(423,921,230)	(359,531,783)	17.91%
Selling and distribution expenses	(1,664,524,241)	(1,151,919,488)	44.48%
Other expenses	(64,537,666)	(136,361,384)	-52.67%
Other income	75,653,704	116,610,353	-35.12%
Profit from operations	689,373,653	558,728,919	-29.57%
Finance cost	(275,783,784)	(180,756,913)	52.54%
Profit before income tax, final tax, and minimum tax	413,589,869	377,971,106	9.42%
Minimum tax differential	(13,431,470)	-	-
Final tax	-	(5,685,667)	-
Profit before income tax	400,158,499	372,285,439	7.48%
Income tax	(147,832,453)	(115,231,896)	28.29%
Profit after taxation	252,326,046	257,053,543	-1.84%
Earnings per share - basic and diluted	5.8	5.91	-1.86%

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