April 25, 2025 (MLN): Packages Limited (PSX: PKGS) has released its financial results for the three months ended March 31, 2025 (1QCY25), posting a profit after tax of Rs187.87 million, reflecting a substantial decline of 69.94% from Rs625.04m reported in the same period last year (SPLY).
The loss attributable to equity holders stood at Rs302.73m [LPS: Rs3.39] compared to a profit of Rs281.36m [EPS: Rs3.15] in 1QCY24.
The company’s net revenue improved by 9.73% YoY, reaching Rs49.74bn versus Rs45.33bn in SPLY, while cost of sales and services rose by 10.89% YoY, resulting in a gross profit of Rs10.2bn up 5.44% YoY.
On the expense front, administrative costs saw a decline of 11.59% YoY to Rs1.73bn.
However, distribution and marketing expenses surged by 47.22% YoY, clocking in at Rs2.99bn. Other expenses also spiked by 74.28% to Rs470.93m.
Meanwhile, the company recorded a net impairment loss on financial assets amounting to Rs78.89m, in contrast to a gain of Rs24.23m last year.
Other income sharply declined by 77.4% YoY to Rs234.57m, down from Rs1.04bn in 1QCY24. Share of net profit from associates and joint ventures provided some relief, rising 42.7% to Rs93.8m.
The company’s finance cost fell 18.98% to Rs3.65bn.
After accounting for a 90% YoY increase in levies, profit before income tax came in at Rs1.27bn down 32.96% YoY. Income tax expenses also decreased by 14.71% to Rs1.08bn.
| Financial Results Foe The Three Months Ended March 31, 2025 (Rupees in '000) | |||
| Category | Mar-25 | Mar-24 | %Change |
| Net Revenue | 49,744,611 | 45,334,321 | 9.73% |
| Cost of Sales and Services | (39,541,600) | (35,658,024) | 10.89% |
| Gross Profit | 10,203,011 | 9,676,297 | 5.44% |
| Administrative Expenses | (1,726,199) | (1,952,533) | -11.59% |
| Distribution and Marketing Costs | (2,992,482) | -2,032,696 | 47.22% |
| Net Impairment (Loss)/Gain on Financial Assets | (78,893) | 24,234 | |
| Other Expenses | (470,930) | (270,213) | 74.28% |
| Other Income | 234,567 | 1,037,879 | -77.40% |
| Investment Income | – | 31,071 | |
| Share of Net Profit of Associates and Joint Ventures (Equity Method) | 93,797 | 65,729 | 42.70% |
| Operating Profit | 5,262,871 | 6,579,668 | -20.01% |
| Finance Costs | (3,651,774) | (4,507,460) | -18.98% |
| Profit Before Levy and Income Tax | 1,611,097 | 2,072,208 | -22.25% |
| Levy | (342,802) | (180,424) | 90.00% |
| Profit Before Income Tax | 1,268,295 | 1,891,784 | -32.96% |
| Income Tax | (1,080,421) | (1,266,741) | -14.71% |
| Profit for the Period | 187,874 | 625,043 | -69.94% |
| (Loss)/Profit Attributable To: | |||
| – Equity Holders of the Parent Company | (302,733) | 281,360 | |
| – Non-Controlling Interests | 490,607 | 343,683 | 42.75% |
| Profit for the Period | 187,874 | 625,043 | -69.94% |
| Basic (Loss)/Earnings Per Share (Rupees) | (3.39) | 3.15 | |
| Diluted (Loss)/Earnings Per Share (Rupees) | (3.39) | 3.15 | |
Copyright Mettis Link News
Posted on: 2025-04-25T11:27:11+05:00
