PABC reports 22% profit surge to Rs6bn in 2024

By MG News | March 26, 2025 at 10:29 AM GMT+05:00

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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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