Macter International doubles profit, reaches Rs397mn
MG News | February 24, 2025 at 09:49 AM GMT+05:00
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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