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

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

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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

 

 

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