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

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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