Macter International doubles profit, reaches Rs397mn

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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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