April 28, 2025 (MLN): Pak Elektron Limited (PSX: PAEL) has reported a net profit of Rs657 million for the quarter ended March 31, 2025, marking a solid 47.65% increase from Rs445m in the same period last year.
The company’s basic earnings per share (EPS) rose to Rs0.71, compared to Rs0.51 in the corresponding quarter of 2024.
Revenue from contracts with customers grew by 17.7% to Rs19.39 billion in 1Q2025, compared to Rs16.47bn in 1Q2024.
After accounting for sales tax and discounts amounting to Rs4.92bn, net revenue stood at Rs14.47bn, reflecting a 13.78% increase year-on-year (YoY).
Meanwhile, the cost of sales rose by 15.36% to Rs10.71bn, leading to a gross profit of Rs3.77bn, up 9.53% compared to the same period last year.
Despite a decline of 11.82% in other income to Rs22.43m, selling and distribution expenses surged 37.22% to Rs1.1bn, and administrative expenses rose 22.37% to Rs659.86m.
Other expenses also increased by 193.19%, reaching Rs17.73m during the review period.
The company recognized an impairment allowance for expected credit losses amounting to Rs62.81m during the quarter.
As a result, operating profit fell by 8% to Rs1.95bn.
However, finance costs decreased significantly by 28.89% to Rs709.06m, providing some relief to the bottom line.
The company’s share of profit from associates dropped slightly to Rs182,000 compared to Rs234,000 in 1Q2024.
Profit before income taxes rose by 10.51% to Rs1.15bn, supported by a moderate 12% rise in statutory levies to Rs87.67m.
After accounting for a 17.25% decrease in income tax provision to Rs492.5m, the company's profit after taxes jumped to Rs657m.
| Statement of Profit or Loss for the Quarter Ended March 31, 2025 (Rupees '000) | |||
| Description | Mar-25 | Mar-24 | %Change |
| Revenue from Contracts with Customers | 19,387,099 | 16,471,159 | 17.70% |
| Sales Tax and Discounts | (4,916,402) | (3,753,217) | 30.99% |
| Net Revenue | 14,470,697 | 12,717,942 | 13.78% |
| Cost of Sales | (10,705,422) | (9,280,282) | 15.36% |
| Gross Profit | 3,765,275 | 3,437,660 | 9.53% |
| Other Income | 22,430 | 25,436 | -11.82% |
| Selling & Distribution Expenses | (1,101,220) | (802,502) | 37.22% |
| Administrative Expenses | (659,864) | (539,241) | 22.37% |
| Other Expenses | (17,732) | (6,048) | 193.19% |
| Total Operating Expenses | (1,778,816) | (1,347,791) | 31.98% |
| Impairment Allowance for Expected Credit Loss | (62,813) | – | |
| Operating Profit | 1,946,076 | 2,115,305 | -8.00% |
| Finance Cost | (709,064) | (997,087) | -28.89% |
| Share of Profit/(Loss) of Associate | 182 | 234 | -22.22% |
| Profit Before Levies & Income Taxes | 1,237,194 | 1,118,452 | 10.62% |
| Provision for Statutory Levies | (87,666) | (78,272) | 12.00% |
| Profit Before Income Taxes | 1,149,528 | 1,040,180 | 10.51% |
| Provision for Income Taxes | (492,496) | (595,183) | -17.25% |
| Profit After Taxes | 657,031 | 444,997 | 47.65% |
| Basic Earnings Per Share | 0.71 | 0.51 | 39.22% |
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Posted on: 2025-04-28T14:28:10+05:00
