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

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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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