Nimir Resins sees slight dip in nine-month profit

MG News | April 24, 2025 at 10:57 AM GMT+05:00

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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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