Nimir Resins sees slight dip in nine-month profit
MG News | April 24, 2025 at 10:57 AM GMT+05:00
April 24, 2025 (MLN): Nimir Resins Limited (PSX: NRSL) has reported a net profit of Rs196.07 million [EPS: Rs1.39] for the nine months ended March 31, 2025, showing a decline of 4.65% YoY compared to Rs205.64m [EPS: Rs1.46] earned in the same period last year (SPLY).
As per the results, the company’s net sales grew by 4.43% YoY to Rs7.03 billion from Rs6.73bn in SPLY.
However, the cost of sales increased by 7.01% YoY, amounting to Rs6.25bn compared to Rs5.85bn last year, which led to a 12.58% YoY decline in gross profit, clocking in at Rs774.51m.
On the expense front, distribution costs increased by 9.99% YoY to Rs106.63m, whereas administrative expenses decreased by 16.70% YoY to Rs106.65m.
This brought the total operating expenses down by 5.20% YoY to Rs213.28m.
Operating profit stood at Rs561.23m, down 15.09% YoY.
Other operating charges rose by 15.25% to Rs40.41m, while finance costs fell by 23.38% YoY to Rs259.13m.
Meanwhile, other income declined sharply by 63.26% to Rs14.56m from Rs39.63m last year.
As a result, profit before taxation dropped by 15.61% YoY to Rs276.25m.
The company also paid lower total taxes worth Rs80.19m, marking a 34.11% decrease from Rs121.7m in SPLY.
| Statement of Profit or Loss For The Nine Months Ended March 31, 2025 Rs. '000) | |||
| Description | Mar-25 | Mar-24 | %Change |
| Revenue from Sales | 8,354,111 | 7,973,350 | 4.78% |
| Less: Sales tax | (1,324,693) | (1,242,334) | 6.63% |
| Sales - net | 7,029,418 | 6,731,016 | 4.43% |
| Cost of sales | (6,254,9110) | (5,845,063) | 7.01% |
| Gross Profit | 774,507 | 885,953 | -12.58% |
| Operating expenses: | |||
| - Distribution costs | (106,628) | (96,947) | 9.99% |
| - Administrative expenses | (106,653) | (128,034) | -16.70% |
| Total Operating Expenses | (213,281) | (224,981) | -5.20% |
| Operating Profit | 561,226 | 660,972 | -15.09% |
| Other operating charges | (40,407) | (35,059) | 15.25% |
| Finance cost | (259,127) | (338,200) | -23.38% |
| Other income | 14,558 | 39,626 | -63.26% |
| Total (Other Charges + Finance - Income) | (284,976) | (333,633) | -14.58% |
| Profit before Taxation | 276,250 | 327,339 | -15.61% |
| Taxation: | |||
| - Current | (69,0350) | (107,319) | -35.67% |
| - Super tax | (19,338) | (37,420) | -48.32% |
| - Deferred | 8,188 | 23,035 | -64.45% |
| Total Taxation | (80,185) |
(121,7040) |
-34.11% |
| Net profit for the Period | 196,065 | 205,635 | -4.65% |
| Earning per Share - Basic and Diluted | 1.39 | 1.46 | -4.79% |
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