HINOON posts Rs1.78bn profits for 9MCY22

October 28, 2022 (MLN): Highnoon Laboratories Limited (HINOON) has disclosed the results for the nine months ended September 2022 wherein the company’s profits swelled by 39.99% YoY to Rs1.78 billion as compared to Rs1.27bn profits in the corresponding period of last year.

This translates into earnings per share of Rs42.41 in 9MCY22, higher by 21.68% YoY against Rs30.29 in the same period last year (SPLY).

Going by the company’s financial statement sent to PSX today, the net revenue of the company surged by 25.60% YoY to clock in at Rs12.03bn, against Rs9.58bn in the SPLY.

Subsequently, the gross profits of the company reached Rs6.08bn during the period under review as compared to Rs4.84bn in the SPLY.

On the expense side, the company distribution and selling costs rise by 16.82%, administrative expenses by 18.28% YoY, and research and development expenses by 6.10% in 9MCY22.

In addition, other expenses of the company substantially also jumped by 75.96% YoY to stand at Rs269 million as compared to Rs153mn in SPLY.

Further, the company reported a 68.11% YoY increase in finance costs that clocked in at Rs36.21mn in 9MCY22.

In addition, the company also paid taxes of Rs667mn during the period, 39.97% higher than Rs477mn paid last year.

Copyright Mettis Link News