LOTCHEM profit drops 26% YoY in Q1 2025

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MG News | April 17, 2025 at 03:05 PM GMT+05:00

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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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