Nishat Chunian swings back to profit with Rs260m earnings

MG News | February 26, 2025 at 01:36 PM GMT+05:00

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February 26, 2025 (MLN): Nishat Chunian Limited (PSX: NCL) returned to profitability, reporting a net profit of Rs259.59 million [EPS: Rs1.08] for the half-year ended December 31, 2024, compared to a loss of Rs385.11mn [LPS: Rs1.60] in the same period last year (SPLY).

The company has declared an interim cash dividend of Rs1 per share, equivalent to 10%.

The company’s revenue stood at Rs44.02bn, witnessing a slight decline of 0.97% YoY.

Despite this, gross profit came in at Rs4.58bn, reflecting a 17.6% decline due to an increase in the cost of sales, which rose by 1.41% YoY to Rs39.44bn.

On the expense side, administrative expenses increased by 22.42% to Rs292.25mn, and other operating expenses surged by 41.44% to Rs88.31mn.

However, the distribution cost saw a slight decline of 4.91% to Rs1.03bn.

Notably, other operating income surged significantly by 158.65% to Rs408.89mn, cushioning the impact of rising expenses.

The company also benefited from a decline in finance costs, which dropped by 33.07% YoY to Rs2.76bn, mainly due to lower borrowing costs.

As a result, profit before taxation turned positive at Rs272.78mn, compared to a loss of Rs380.49mn in SPLY.

Tax expenses increased by 185.76% YoY to Rs13.19mn, but the company still managed to post a net profit, marking a turnaround from last year’s losses.

Consolidated Profit and Loss For The Half Year Ended December 31, 2024
Particulars	Dec-24	Dec-23	%Change
Revenue	44,024,461,923	44,453,556,254	-0.97%
Cost of Sales	(39,442,285,515)	(38,892,813,855)	1.41%
Gross Profit	4,582,176,408	5,560,742,399	-17.60%
Distribution Cost	(1,036,675,443)	(1,090,223,033)	-4.91%
Administrative Expenses	(292,255,777)	(238,738,126)	22.42%
Other Operating Expenses	(88,316,847)	(62,441,554)	41.44%
Total Operating Expenses	(1,417,248,067)	(1,391,402,713)	1.86%
Operating Profit	3,164,928,341	4,169,339,686	-24.09%
Other Operating Income	408,897,641	158,088,594	158.65%
Profit from Operations	3,573,825,982	4,327,428,280	-17.41%
Finance Cost	(2,761,983,022)	(4,126,602,338)	-33.07%
Profit Before Levy and Taxation	811,842,960	200,825,942	304.25%
Levy	(539,057,912)	(581,321,056)	-7.27%
Profit Before Taxation	272,785,048	(380,495,114)	-171.69%
Taxation	(13,194,793)	(4,617,412)	185.76%
Profit After Taxation	259,590,255	(385,112,526)	-167.41%
(Loss) / Profit Attributable To:
Equity Holders of the Holding Co.	259,590,255	(385,112,526)	-167.41%
Non-Controlling Interest	-	-
Total Profit/(Loss)	259,590,255	-385,112,526	-167.41%
(Loss) / Profit Per Share	1.08	(1.6)	-167.50%

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