GAL swings to over Rs1bn profit after last year’s loss

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MG News | April 21, 2025 at 11:10 AM GMT+05:00

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April 21, 2025 (MLN): Ghandhara Automobiles Limited (PSX: GAL) posted a robust turnaround, recording a profit of Rs1.29 billion [EPS: Rs22.56] for the period ended March 31, 2025, against a loss of Rs163.33 million [LPS: Rs2.87] in the same period last year (SPLY).

The significant turnaround was primarily driven by a 126% YoY surge in revenue, which rose to Rs8.38bn.

Although the cost of sales also climbed 94.4% to Rs6.87bn, the stronger growth in sales led to a massive 779.5% jump in gross profit, reaching Rs1.51bn.

Consequently, gross margins witnessed a substantial improvement.

Other income also played a key role, increasing 162.2% to Rs556.62m.

On the flip side, administrative expenses inched up 6.4% YoY to Rs206.68m, while distribution costs rose 28.3% to Rs129.65m.

Other expenses saw a sharp rise to Rs90.75m from just Rs2.27m in the SPLY.

Notably, finance costs decreased by 49.2% to Rs132.91m, easing pressure on the bottom line and helping operating profits to soar to Rs1.64bn, up from Rs87.72m last year a jump of over 1,766%.

On the tax front, GAL recorded a net tax expense of Rs218.44m compared to a tax income of Rs56.3m in the SPLY, mainly due to current and deferred tax adjustments.

Financial Results for the Period Ended March 31, 2025
Description Mar-25 Mar-24 %Change
Revenue - net 8,378,228 3,706,807 126.02%
Cost of sales (6,871,215) (3,535,465) 94.35%
Gross profit 1,507,013 171,342 779.54%
Distribution cost (129,651) (101,048) 28.31%
Administrative expenses (206,679) (194,188) 6.43%
Other income 556,616 212,272 162.22%
Other expenses (90,754) (2,267) 3903.26%
Profit from operations 1,637,231 87,724 1766.34%
Finance cost (132,914) (261,734) -49.22%
Profit / (loss) before levies and income tax 1,504,318 (174,010) -964.50%
Minimum tax differential - (45,623)  
Profit / (loss) before income tax 1,504,318 (219,633) -784.92%
Income tax      
- Current tax (for the year incl. super tax) (215,091) -  
- Current tax (for prior years) 98,181 -  
- Deferred tax (charge) / income (101,533) 56,300 -280.34%
Taxation (218,443) 56,300 -488.00%
Profit / (loss) for the period 1,285,885 (163,333) -887.28%
Other comprehensive income - -  
Total comprehensive income / (loss) 1,285,885 (163,333) -887.28%
Earnings / (loss) per share      
- Basic and diluted (Rupees) 22.56 (2.87) -886.06%

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