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	181,259.68 470.84M	-0.20% -369.69
ALLSHR	109,929.76 975.62M	-0.01% -12.56
KSE30	54,098.62 128.04M	-0.33% -180.86
KMI30	255,607.53 154.75M	-0.30% -762.24
KMIALLSHR	70,648.66 584.40M	0.03% 21.76
BKTi	51,158.12 47.42M	-0.71% -368.09
OGTi	36,542.82 7.90M	-0.63% -231.76

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,370.00	63,670.00 61,795.00	940.00 1.51%
BRENT CRUDE	76.07	79.25 75.58	-1.95 -2.50%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-2.50 -2.31%
ROTTERDAM COAL MONTHLY	119.20	119.50 118.50	-0.40 -0.33%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	71.85	75.13 71.42	-1.67 -2.27%
SUGAR #11 WORLD	15.15	15.20 14.89	0.04 0.26%