Pakistan Aluminium Beverage Cans earns Rs1.7bn in three months

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MG News | October 29, 2024 at 09:47 AM GMT+05:00

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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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