LCI’s profits nearly double to Rs5bn in H1FY25

By MG News | January 28, 2025 at 10:50 AM GMT+05:00

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January 28, 2025 (MLN): Lucky Core Industries Limited (PSX: LCI) net profit rose 99.48% to Rs5.04 billion [EPS: Rs54.57] in December 2024 from last year as its margins improved.

That compares to a profit of Rs2.53bn [EPS: Rs27.35] recorded in the same period last year (SPLY).

The company has declared an interim cash dividend of Rs34 per share for the six-month period ended December 31, 2024, representing 340%.

Moreover, the cost of sales rose by 92.60%, while gross profit increased by 96.92% to Rs12.81bn in H1FY24.

During the period under review, other income rose 101.95% to stand at Rs1.81bn in H1FY24 as compared to Rs0.89bn in SPLY.

The company’s finance cost rose by 123.06%, standing at Rs1.99bn, as compared to Rs0.89bn in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs2.20bn against the Rs1.16bn paid in the corresponding period of last year, depicting an increase of 89.76%.

Unconsolidated (un-audited) Financial Results for six months ended 31 December, 2024 (Rupees in '000)	Dec-23	Dec-24	%Change
Net turnover	31,121,616	60,221,982	93.51%
Cost of sales	(24,618,114)	(47,415,417)	92.60%
Gross profit	6,503,502	12,806,565	96.92%
Selling and distribution expenses	(1,865,008)	(3,506,501)	88.02%
Administration and general expenses	(660,097)	( 1,221,510)	85.05%
Finance costs	(891,259)	(1,988,062)	123.06%
Exchange (loss) I gain	100,395	122,572	22.09%
Workers' profit participation fund	(101,922)	(204,404)	100.55%
Workers' welfare fund	(57,560)	(116,200)	101.88%
Other charges	(23,188)	(46,487)	100.48%
Other income	894,413	1,806,274	101.95%
Profit before final taxes andincome tax	3,899,276	7,652,247	96.25%
Taxation - Final taxes	(215,085)	(415,475)	93.17%
Profit before income tax	3,684,191	7,236,772	96.43%
Taxation - Income tax	1,157,725	2,196,942	89.76%
Profit for the period	2,526,466	5,039,830	99.48%
Earning Per Share	27.35	54.57

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