LOTCHEM profit drops 26% YoY in Q1 2025

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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