Pakistan Aluminium Beverage Cans earns Rs1.7bn in three months
MG News | October 29, 2024 at 09:47 AM GMT+05:00
October 29, 2024 (MLN): Pakistan Aluminium Beverage Cans Limited (PSX: PABC) earned a net profit of Rs1.71 billion [EPS: Rs4.72] during the quarter ending September 2024, up 15.1% from the profit of Rs1.48bn [EPS: Rs4.11] in the same period last year (SPLY).
Its shares fell over 4% during intraday trade Tuesday.
The company's revenue rose 6.5% to Rs5.77bn as compared to Rs5.42bn in SPLY. Gross profit jumped 8.2% to Rs2.24bn in Q3 CY24.
The gross margins improved to 38.7% as compared to 38.2% in SPLY.
During the period under review, other income grew by 418.6% to stand at Rs597.46m in Q3 CY24 as compared to Rs115.21m in SPLY.
On the expense side, the company's administrative expenses fell 7.4% from a year ago to Rs192.94m, selling and distribution expenses rose 200.7% to Rs535.99m, and other operating expenses rose 85.2% to Rs136.33m.
The company’s finance cost rose by 34.6% and stood at Rs263.33m as compared to Rs195.7m in SPLY, mainly due to higher interest rates.
| Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Sep 24 | Sep 23 | % Change | |
| Sales | 5,774,128 | 5,420,037 | 6.53% |
| Cost of sales | (3,536,672) | (3,351,516) | 5.52% |
| Gross Profit/ (loss) | 2,237,456 | 2,068,521 | 8.17% |
| Administrative Expenses | (192,936) | (208,396) | -7.42% |
| Selling And Distribution Expenses | (535,995) | (178,251) | 200.70% |
| Other Income | 597,456 | 115,211 | 418.58% |
| Other Operating Expenses | (136,326) | (73,616) | 85.19% |
| Finance Cost | (263,327) | (195,704) | 34.55% |
| Profit/ (loss) before taxation | 1,706,328 | 1,527,766 | 11.69% |
| Taxation | - | (45,145) | - |
| Net profit/ (loss) for the period | 1,706,328 | 1,482,620 | 15.09% |
| Basic earnings/ (loss) per share | 4.72 | 4.11 | - |
Amount in thousand except for EPS
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