Haleon’s profit doubles to Rs650m in Q1 2024

MG News | April 25, 2024 at 03:53 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 25, 2024 (MLN): Haleon Pakistan Limited (PSX: HALEON) revealed its earnings for the three months ended March 2024, with its profit after tax surging more than 2x YoY to Rs649.28 million [EPS: Rs5.55] compared to a profit of Rs303.14m [EPS: Rs2.59] in the same period last year (SPLY).

Going by the results, the company's sales inched up by 1.7% YoY to Rs7.95bn as compared to Rs7.82bn in SPLY.

Moreover, the cost of sales fell by 6.5% YoY, improving the gross profit by 32.4% YoY to Rs2.19bn in 1Q2024.

The gross margins improved to 27.50% as compared to 21.12% in SPLY.

During the quarter, other income increased by 13.5% YoY to stand at Rs187.89m in 1Q2024 as compared to Rs165.56m in SPLY.

On the expense side, the company observed a rise in administrative expenses by 16.8% YoY and other expenses by 2.4x YoY to clock in at Rs162.2m and Rs99.88m respectively during the review period.

The company’s finance charges plunged 96.3% YoY and stood at Rs8.69m as compared to Rs234.05m in SPLY.

On the tax front, the company paid a significantly larger tax worth Rs468.23m against the Rs164.97m paid in the corresponding period of last year, depicting a rise of 2.8x YoY.

Unconsolidated (un-audited) Financial Results for quarter ended March 31, 2024 (Rupees in '000)
	Mar 24	Mar 23	% Change
Sales	7,953,602	7,820,947	1.70%
Cost of sales	(5,766,703)	(6,169,094)	-6.52%
Gross Profit/ (loss)	2,186,899	1,651,853	32.39%
Administrative Expenses	(162,195)	(138,871)	16.80%
Selling And Distribution Expenses	(986,505)	(935,320)	5.47%
Other Income	187,888	165,564	13.48%
Other Operating Expenses	(99,881)	(41,072)	143.19%
Finance Cost	(8,694)	(234,050)	-96.29%
Profit/ (loss) before taxation	1,117,512	468,104	138.73%
Taxation	(468,231)	(164,965)	183.84%
Net profit/ (loss) for the period	649,281	303,139	114.19%
Basic earnings/ (loss) per share	5.55	2.59	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,430.02 376.06M	-0.19% -346.57
ALLSHR	109,168.67 713.66M	-0.13% -139.83
KSE30	54,263.26 125.13M	-0.24% -128.56
KMI30	255,651.73 86.61M	-0.19% -483.04
KMIALLSHR	69,991.04 446.60M	-0.05% -33.30
BKTi	52,205.98 60.34M	-0.31% -161.74
OGTi	35,363.45 11.64M	0.17% 60.63

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,300.00	65,355.00 65,035.00	125.00 0.19%
BRENT CRUDE	82.38	84.44 81.50	-0.11 -0.13%
RICHARDS BAY COAL MONTHLY	105.50	105.50 105.50	-0.25 -0.24%
ROTTERDAM COAL MONTHLY	116.25	117.00 116.25	-0.10 -0.09%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	77.08	78.77 76.53	-0.21 -0.27%
SUGAR #11 WORLD	16.49	16.50 15.49	0.92 5.91%