Gillette Pakistan's 9MFY25 profit falls nearly 8%

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MG News | April 18, 2025 at 04:57 PM GMT+05:00

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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%

Copyright Mettis Link News

 

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