GCIL reports 56% increase in 1HFY25 profit, reaches Rs712m

MG News | February 28, 2025 at 05:29 PM GMT+05:00

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February 28, 2025 (MLN): Ghani Chemical Industries Limited (PSX: GCIL) has posted a significant 56% increase in profit after taxation for the half-year ending December 31, 2024, reaching Rs712 million, compared to Rs456m in the same period last year.

In addition to the strong financial results, GCIL declared an interim cash dividend of Rs0.6 per share, representing 6% of the share value for the period.

Earnings per share (EPS) for the period increased to Rs1.42, compared to Rs0.92 in the previous year.

The company reported net sales of Rs3.6 billion, a 49% growth from Rs2.4bn in 2023.

GCIL's strong performance is driven by a notable rise in gross profit, which surged by 72%, reaching Rs1.4bn from Rs862m last year.

Despite an increase in the cost of sales by 36%, the company managed to maintain a healthy margin.

Other income, however, fell by 27%, dropping from Rs276.5m to Rs202.6m.

The company's operating profit rose by 55.6%, standing at Rs1.4bn, up from Rs898m in 2023.

Finance costs increased slightly by 2.6%, totaling Rs217m, while the tax charge saw a dramatic increase of 315.6%, rising from Rs112m to Rs466.5m.

Consolidated Condensed interim statement of profit and loss (un-audited) for the half year ended December 31, 2024 (in Rupees '000)	2024	2023	%Change
Sales	4,300,643	2,910,545	47.76%
Less: sales tax	(634,833)	(445,509)	42.50%
Sales - net	3,665,810	2,465,036	48.71%
Cost of sales	(2,179,808)	(1,602,653)	36.01%
Gross profit	1,486,002	862,383	72.31%
Distribution cost	(68,626)	(79,089)	-13.23%
Administrative expenses	(134,269)	(108,168)	24.13%
Other expenses	(88,894)	(53,910)	64.89%
Other income	202,623	276,522	-26.72%
Profit from operations	1,396,836	897,738	55.60%
Finance cost	(216,973)	(211,528)	2.57%
Profit before taxation, minimum and final tax levies	1,179,863	686,210	71.94%
Minimum and final tax levies	(1,106)	(117,941)	-99.06%
Profit before taxation	1,178,757	568,269	107.43%
Taxation	(466,457)	(112,244)	315.57%
Profit after taxation	712,300	456,025	56.20%
Earnings per share	1.42	0.92

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