Pakistan Cables reports loss after profitable year

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MG News | April 24, 2025 at 02:09 PM GMT+05:00

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April 24, 2025 (MLN): Pakistan Cables Limited (PCAL) has posted a net loss of Rs260.99 million [LPS: Rs4.79] for the nine-month period ended March 31, 2025, compared to a net profit of Rs254.7m [EPS: Rs4.68] recorded in the same period last year (SPLY).

The company’s revenue from contracts with customers grew by 13.74% year-on-year (YoY) to Rs22.24 billion, up from Rs19.56bn in SPLY.

However, the benefit of higher sales was offset by a 16.93% increase in cost of sales, which rose to Rs19.91bn, squeezing gross profit by 7.68% to Rs2.34bn.

Operating expenses remained under pressure, with marketing, selling, and distribution expenses rising by 11.53% to Rs797.61m, and administrative expenses increasing by 10.31% to Rs281.85m.

A reversal in impairment on trade debts amounting to Rs14.1m provided minor relief, compared to a loss of Rs25.05m in the same period last year.

Finance costs surged 43.87% to Rs1.81bn, reflecting the impact of elevated borrowing costs. Other expenses, however, fell by 57.6% to Rs17.7m.

Meanwhile, other income more than doubled, jumping 157.1% to Rs210.73m, and share of profit from an associate contributed Rs44.5mn.

Despite some positive developments, the company swung to a pre-tax loss of Rs321.54m from a pre-tax profit of Rs302.52m last year.

After accounting for a tax credit of Rs60.56m, the overall loss after tax stood at Rs260.99m.

 STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE NINE MONTHS ENDED MARCH 31, 2025 (Rupees '000)
Description Mar-25 Mar-24 %Change
Revenue from contracts with customers 22,244,659 19,556,911 13.74%
Cost of sales (19,909,571) (17,027,543) 16.93%
Gross profit 2,335,088 2,529,368 -7.68%
Marketing, selling, and distribution expenses (797,614) (715,146) 11.53%
Administrative expenses (281,847) (255,495) 10.31%
Impairment reversal / (loss) on trade debts 14,096 (25,048)  
Total expenses (1,065,365) (995,689) 7.00%
Finance cost (1,811,398) (1,259,016) 43.87%
Other expenses (17,699) (41,747) -57.60%
Total finance and other expenses (1,829,097) (1,300,763) 40.62%
Other income 210,730 81,965 157.10%
Share of profit from associate 44,499 -  
(Loss) / profit before levies and income tax (304,145) 314,881  
Levies - final tax (17,396) (12,363) 40.71%
(Loss) / profit before income tax (321,541) 302,518  
Income tax credit / (expense) 60,555 (47,821)  
(Loss) / profit after tax for the period (260,986) 254,697  
(Loss) / earnings per share - basic and diluted (4.79) 4.68  

Copyright Mettis Link News

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