Macter International doubles profit, reaches Rs397mn

MG News | February 24, 2025 at 09:49 AM GMT+05:00

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February 24, 2025 (MLN): Macter International Limited (PSX: MACTER) reported a remarkable increase in profitability for the six-month period ending December 31, 2024, with a profit after tax of Rs396.92 million, reflecting a 98.01% surge compared to Rs200.45mn in the same period last year (SPLY).

The company's revenue from contracts with customers rose by 35.08% to Rs5.14 billion, up from Rs3.81bn in SPLY, while the cost of sales increased by 26.08% to Rs2.8bn.

As a result, the company achieved a gross profit of Rs2.34bn, a 47.71% improvement from Rs1.58bn in SPLY.

Operating expenses witnessed a significant rise, with selling and distribution expenses increasing by 22.47% to Rs1.34bn, and administrative expenses growing by 38.23% to Rs312.44mn.

The impairment loss on financial assets saw a sharp rise of 331.87% to Rs25.23mn, while other expenses jumped by 180.94% to Rs49.49mn.

Despite this, other income remained stable at Rs39.99mn, a marginal 1.36% increase.

Operating profit surged by 133.93% to Rs649.97mn compared to Rs277.85mn in SPLY.

Finance costs slightly increased by 1.83% to Rs65.3mn.

Consequently, profit before tax recorded a substantial growth of 173.82%, reaching Rs584.67mn from Rs213.52mn in SPLY.

However, income tax expense rose significantly by 1336.17% to Rs187.75mn.

Earnings per share (EPS) for the period stood at Rs8.64, nearly doubling from Rs4.35 in SPLY.

Profit attributable to owners of the holding company surged by 98.72% to Rs395.65mn, while the non-controlling interest declined by 6.17% to Rs1.26mn.

Consolidated Profit and Loss For The Period Ended December 31, 2024
Particulars	Dec-24	Dec-23	%Change
Revenue from contracts with customers	5,143,503	3,807,782	35.08%
Cost of sales	(2,802,838)	(2,223,094)	26.08%
Gross profit	2,340,665	1,584,688	47.71%
Selling and distribution expenses	(1,343,521)	(1,096,999)	22.47%
Administrative expenses	(312,443)	(226,037)	38.23%
Impairment loss on financial assets	(25,234)	(5,843)	331.87%
Other expenses	(49,488)	(17,615)	180.94%
Other income	39,986	39,451	1.36%
Total expenses	(1,690,700)	(1,307,043)	29.35%
Operating profit	649,965	277,845	133.93%
Finance cost	(65,297)	(64,124)	1.83%
Profit before income tax	584,668	213,521	173.82%
Income tax expense	(187,751)	(13,073)	1336.17%
Profit after taxation	396,917	200,448	98.01%
Earnings per share - basic and diluted	8.64	4.35	98.62%
Attributable to:
Owners of the Holding Company	395,654	199,102	98.72%
Non-controlling interest	1,263	1,346	-6.17%

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