Pak Elektron reports 79% surge in profit to over Rs2bn in 2025

MG News | March 25, 2025 at 02:17 PM GMT+05:00

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March 25, 2025 (MLN): Pak Elektron Limited (PSX: PAEL) has reported a net profit of Rs2.37 billion for the year ended December 31, 2024, marking a significant 78.64% increase from Rs1.33bn in 2024.

The company’s basic earnings per share (EPS) rose to Rs2.72, compared to Rs1.50 in the previous year.

Revenue from contracts with customers surged by 44.05% to Rs69.61bn in 2025, compared to Rs48.32bn in 2024.

After accounting for sales tax, excise duty, and discounts amounting to Rs16.50bn, net revenue stood at Rs53.11bn, reflecting a 37.3% increase.

Meanwhile, the cost of sales jumped 41.29% to Rs38.97bn, resulting in a gross profit of Rs14.14bn, up 27.37% from the previous year.

Despite the rise in selling and distribution expenses by 68.86% to Rs3.11bn and administrative expenses by 24.92% to Rs2.59bn, PAEL’s operating profit increased by 12.86% to Rs8.12bn.

However, other income declined by 25.34% to Rs77.56 million, while impairment allowance for expected credit losses spiked 258.08% to Rs303.52m.

Finance costs remained relatively stable, increasing by just 0.86% to Rs3.68bn.

The company’s share of profit from associates recorded a minor loss of Rs4.15m, compared to a profit of Rs183,000 in the previous year.

Profit before income taxes surged 71.22% to Rs4.13bn, supported by a sharp 72.98% decline in statutory levies to Rs307m.

After accounting for income tax provisions of Rs1.77bn, the company’s bottom line stood at Rs2.37bn.

Statement of profit and loss for the year ended 31 December 2024 (Rupees in '000)	2024	2023	%Change
Revenue from contract with customers	69,608,716	48,324,005	44.05%
Sales tax, excise duty and discounts	(16,495,810)	(9,638,893)	71.14%
Net revenue	53,112,906	38,685,112	37.30%
Cost of sales	(38,970,306)	(27,581,482)	41.29%
Gross profit	14,142,600	11,103,630	27.37%
Other income	77,561	103,888	-25.34%
Selling and distribution expenses	(3,111,933)	(1,842,938)	68.86%
Administrative expenses	(2,591,867)	(2,074,792)	24.92%
Other expenses	(89,223)	(6,779)	1216.17%
Impairment allowance for expected credit losses	(303,522)	(84,764)	258.08%
Operating profit	8,123,616	7,198,245	12.86%
Finance cost	(3,680,096)	(3,648,653)	0.86%
Share of profit of associate	(4,145)	183
Profit before statutory levies and income taxes	4,439,375	3,549,775	25.06%
Provision for statutory levies	(307,009)	(1,136,260)	-72.98%
Profit before income taxes	4,132,366	2,413,515	71.22%
Provision for income taxes	(1,765,292)	(1,088,426)	62.19%
Profit after income taxes	2,367,074	1,325,089	78.64%
Basic earnings per share	2.72	1.5

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