LOTCHEM profit drops 26% YoY in Q1 2025
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MG News | April 17, 2025 at 03:05 PM GMT+05:00
April 17, 2025 (MLN): Lotte Chemical Pakistan Limited (PSX: LOTCHEM) posted a 26% YoY decline in its profit after tax, which clocked in at Rs661.9 million [EPS: Rs0.44] for the quarter ended March 31, 2025, compared to Rs897.1m [EPS: Rs0.59] in the same period last year (SPLY).
The company’s revenue fell 33% YoY to Rs21.5 billion, down from Rs32.3bn, amid a 34% drop in cost of sales to Rs20.17bn, resulting in a gross profit of Rs1.33bn, lower by 21% YoY.
Administrative expenses rose by 10% YoY to Rs201.5m, while distribution and selling expenses remained nearly flat at Rs48.2m.
However, other operating expenses dropped 27% YoY to Rs81.2m.
Despite lower expenses, the company’s operating profit slipped 25% YoY to Rs1bn, primarily due to a sharp 41% decline in other income, which stood at Rs208.8m, compared to Rs351.1m in SPLY.
Finance costs dropped 44% YoY to Rs124.3m, helping contain the decline in profit before tax, which settled at Rs1.09bn, down 26% YoY.
On the taxation front, the company paid Rs423.8m, compared to Rs572.1m in the same quarter of last year.
Condensed Interim Statement of Profit or Loss (Un-audited) | |||
Particulars | Mar-25 | Mar-24 | %Change |
Revenue - net | 21,505,196 | 32,276,924 | -33.37% |
Cost of sales | (20,172,962) | (30,592,943) | -34.06% |
Gross profit | 1,332,234 | 1,683,981 | -20.89% |
Distribution and selling expenses | (48,172) | (48,693) | -1.07% |
Administrative and general expenses | (201,470) | (182,349) | 10.49% |
Other operating expenses | (81,209) | (111,947) | -27.46% |
Operating profit | 1,001,383 | 1,340,992 | -25.33% |
Other income | 208,767 | 351,092 | -40.54% |
Finance costs | (124,250) | (222,775) | -44.23% |
Profit before taxation and levies | 1,085,900 | 1,469,309 | -26.09% |
Levies | (181) | (34) | 432.35% |
Profit before taxation | 1,085,719 | 1,469,275 | -26.11% |
Taxation | (423,818) | (572,149) | -25.93% |
Profit after taxation | 661,901 | 897,126 | -26.22% |
Earnings per share - basic/diluted | 0.44 | 0.59 | -25.42% |
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