Image Pakistan sees profit more than double to Rs557mn

By MG News | February 24, 2025 at 04:44 PM GMT+05:00

0:00

February 24, 2025 (MLN): Image Pakistan Limited (PSX: IMAGE) has reported a remarkable 126% increase in its profit after taxation for the half-year ended December 31, 2024, reaching Rs557 million compared to Rs246mn in the same period last year.

The earnings per share (EPS) for the period stood at Rs2.42, up from Rs1.87 in 2023, reflecting enhanced shareholder value.

This substantial growth was driven by a significant increase in revenue and improved operational efficiency.

The company's revenue surged by 27%, rising from Rs1.7 billion in 2023 to Rs2bn in 2024.

Despite a modest 2% increase in the cost of sales, gross profit witnessed a strong 60% jump, standing at Rs1bn.

The improved profitability was further supported by a decline in distribution and selling expenses, which decreased by 2.6% to Rs258mn.

Operating profit more than doubled, posting an impressive 126% increase to Rs757.5mn, up from Rs335.5mn in the previous year.

However, other income declined significantly by 76%, totaling Rs1mn.

Finance costs saw a 7% rise to Rs35mn, but this was offset by the strong overall financial performance.

The company's profit before taxation surged by 139% to Rs722mn, with taxation expenses rising sharply by 194% to Rs165mn.

Consolidated condensed interim statement of profit or loss for the half year ended December 31, 2024	2024	2023	%Change
Revenue	2,125,155,233	1,668,740,221	27.35%
Cost of Sales	(964,503,307)	(942,870,440)	2.29%
Gross Profit	1,160,651,926	725,869,781	59.90%
Distribution and Selling Expenses	(258,350,685)	(265,226,807)	-2.59%
Administrative Expenses	(145,917,913)	(130,105,671)	12.15%
Total Expenses	(404,268,598)	(395,332,478)	2.26%
Other Income	1,172,050	4,950,857	-76.33%
Operating Profit	757,555,378	335,488,160	125.81%
Finance Cost	(35,410,888)	(33,148,961)	6.82%
Profit Before Taxation	722,144,490	302,339,199	138.85%
Taxation	(165,336,184)	(56,241,805)	193.97%
Profit After Taxation	556,808,306	246,097,394	126.26%
Earnings Per Share - Basic & Diluted	2.42	1.87

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