Gillette Pakistan's 9MFY25 profit falls nearly 8%

MG News | April 18, 2025 at 04:57 PM GMT+05:00
April 18, 2025 (MLN): Gillette Pakistan Limited (PSX: GLPL) has reported a 7.97% decline in net profit for the nine-month period ended March 31, 2025, reaching Rs30.1 million compared to Rs32.7m in the same period last year.
The earnings per share (EPS) dropped to Rs0.94 from Rs1.03, reflecting a slight deterioration in financial performance despite a strong 44.03% increase in revenue, which rose to Rs1.56 billion from Rs1.08bn in the prior year.
However, the 88.22% surge in the cost of goods sold, amounting to Rs1.15bn, significantly dented profitability, leading to a 13.54% drop in gross profit, which stood at Rs405.4m.
While selling, marketing, and distribution expenses were reduced by 58.62%, and administrative expenses declined by 7.32%, other operating expenses more than doubled rising by 140.41% to Rs71m putting further pressure on the bottom line.
Other income fell sharply by 56.96% to Rs47.2m, while interest expense decreased by 11.89% to Rs142.3m. Bank charges dropped by 93.71% to just Rs0.1m.
The company’s profit before tax declined by 33.28% to Rs75.9m, while income tax expense decreased by 43.49% to Rs45.8m, offering some relief.
Despite these adjustments, total comprehensive income for the period fell to Rs30.1m, while the EPS contraction of 8.74% reflects ongoing profitability challenges amid rising operational costs and declining non-core income.
Condensed Statement of Profit or Loss (Rupees '000') | |||
Particulars | Mar-25 | Mar-24 | %Change |
Revenue from contract with customers - net | 1,555,124 | 1,079,702 | 44.03% |
Cost of goods sold | (1,149,740) | (610,851) | 88.22% |
Gross profit | 405,384 | 468,851 | -13.54% |
Selling, marketing and distribution expenses | (71,621) | (173,086) | -58.62% |
Administrative expenses | (91,749) | (98,998) | -7.32% |
Other operating expenses | (70,956) | (29,514) | 140.41% |
Other income | 47,249 | 109,787 | -56.96% |
Interest expense | (142,294) | (161,499) | -11.89% |
Bank charges | (112) | (1,781) | -93.71% |
Profit before tax | 75,901 | 113,760 | -33.28% |
Income tax expense | (45,800) | (81,052) | -43.49% |
Profit after tax | 30,101 | 32,708 | -7.97% |
Other comprehensive income for the period | - | - | |
Items that may be reclassified to the statement of P&L | - | - | |
Items that will not be reclassified to the statement of P&L | - | - | |
Remeasurement of retirement benefit obligation | - | - | |
Total comprehensive income for the period | 30,101 | 32,708 | -7.97% |
Earnings per share - basic and diluted | 0.94 | 1.03 | -8.74% |
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