Ghandhara’s earnings rebound with Rs405.7m profit in Q1FY25

MG News | October 23, 2024 at 03:57 PM GMT+05:00

0:00

October 23, 2024 (MLN): Ghandhara Automobiles Limited (PSX: GAL) witnessed a profit of Rs405.7 million [EPS: Rs7.12] in Q1FY25, compared to a loss of Rs116.9m [LPS: Rs2.05] during the same period last year (SPLY).

This turnaround in earnings was driven by a sharp rise in revenue and other income.

The company’s revenue surged by 2x YoY to Rs 2.22 billion from Rs1.01bn in Q1 FY24, showcasing a strong recovery in sales.

Despite the rise in the cost of sales, which grew by 87.5% YoY to Rs 1.87bn, the company managed to achieve a gross profit of Rs356.5m, up significantly from Rs12.6m in the same quarter last year.

Ghandhara's other income saw a remarkable jump of 4.62x YoY to Rs 270.3m, providing a substantial boost to its profitability.

On the expense side, the company's administrative expenses dropped by 3.3% YoY to Rs61m.

On the other hand, distribution costs increased by 5.77% to Rs31.33m.

On the tax front, the company paid Rs44.35m during the review period.

Unconsolidated (un-audited) Financial Results for the quarter ended September 30, 2024 (Rupees in '000)
	Sep-24	Sep-23	Change
Revenue - net -	2,222,535	1,007,785	120.54
Cost of sales	(1,866,052)	(995,167)	87.51
Gross profit	356,483	12,618	2725.19
Distribution cost	(31,333)	(29,623)	5.77
Administrative expenses	(61,189)	(63,103)	-3.03
Other income	270,270	58,393	362.85
Other expenses	(18,485)	(3,156)	485.71
Profit / (loss) from operations	515,746	(24,871)	-
Profit / (loss) before levies and income tax	450,060	(110,852)	-
Minimum tax differential	-	(12,948)	-
Profit/(loss) before income tax	450,060	(123,800)	-
Income tax			-
Current tax - for the year including super tax	(28,377)	-	-
Deferred tax - (charge) / income	(15,978)	6,900	-
Taxation	(44,355)	6,900	-
Profit / (loss) for the period	405,705	(116,900)	-
EPS/LPS	7.12	-2.05

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,830.22 319.89M	-0.14% -243.51
ALLSHR	102,922.38 808.59M	-0.19% -197.80
KSE30	52,169.49 112.77M	-0.13% -68.01
KMI30	242,960.31 62.27M	-0.31% -745.44
KMIALLSHR	66,780.42 307.03M	-0.21% -140.25
BKTi	47,435.60 66.45M	0.00% 0.50
OGTi	33,373.62 6.42M	0.72% 237.60

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,390.00	87,795.00 86,650.00	-295.00 -0.34%
BRENT CRUDE	62.44	62.73 62.20	0.06 0.10%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.40 2.71%
ROTTERDAM COAL MONTHLY	96.45	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	58.51	58.75 58.22	0.13 0.22%
SUGAR #11 WORLD	15.30	15.34 15.16	0.10 0.66%