PABC reports 22% profit surge to Rs6bn in 2024
MG News | March 26, 2025 at 10:29 AM GMT+05:00
March 26, 2025 (MLN): Pakistan Aluminium Beverage Cans Limited (PSX: PABC) has reported a robust financial performance for the year ended December 31, 2024, posting a profit of Rs6.1 billion, a 21.7% increase from Rs5.02bn in 2023.
The company’s earnings per share also surged to Rs16.9, up from Rs13.9 in the previous year.
PABC’s sales revenue rose 16.9% to Rs23.07bn in 2024, compared to Rs19.73bn in 2023.
The cost of sales increased by 21.1%, reaching Rs14.64bn, resulting in a gross profit of Rs8.43bn, up 10.2% from last year.
Administrative expenses grew moderately by 7.7% to Rs625.47 million, while selling and distribution costs doubled to Rs1.6bn, marking a 101.4% increase.
A significant boost in other income, which soared 376.8% to Rs2.19bn, contributed to the overall profitability, despite a 42.2% rise in finance costs to Rs1.02bn.
Meanwhile, other expenses declined by 13.5% to Rs610.97m.
The company’s profit before tax stood at Rs6.76bn, reflecting a strong 35.2% increase from Rs5bn in the previous year.
| Statement of profit and loss for the year ended 31 December 2024 (Rupees) | 2024 | 2023 | %Change |
| Sales | 23,067,766,232 | 19,735,901,647 | 16.9% |
| Cost of sales | (14,640,075,327) | (12,090,782,766) | 21.1% |
| Gross profit | 8,427,690,905 | 7,645,118,881 | 10.2% |
| Administrative expenses | (625,469,488) | (580,485,420) | 7.7% |
| Selling and distribution cost | (1,604,528,866) | (796,519,132) | 101.4% |
| Other income | 2,194,382,657 | 460,240,554 | 376.8% |
| Other expenses | (610,972,653) | (706,366,505) | -13.5% |
| Finance costs | (1,022,203,466) | (718,630,718) | 42.2% |
| Profit before levies and income tax | 6,758,899,089 | 5,303,357,660 | 27.4% |
| Levies | - | (303,186,043) | |
| Profit before income tax | 6,758,899,089 | 5,000,171,617 | 35.2% |
| Income tax | (654,701,034) | 17,664,278 | |
| Profit for the year | 6,104,198,055 | 5,017,835,895 | 21.7% |
| Earnings per share - basic and diluted | 16.9 | 13.9 |
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