PHDL earns Rs447m in FY24
MG News | October 07, 2024 at 10:03 AM GMT+05:00
October 07, 2024 (MLN): Pakistan Hotels Developers Limited (PSX: PHDL) recorded a profit after tax of Rs446.88 million [EPS: Rs24.83] in financial year 2024 as against a profit of Rs44.13m [EPS: Rs2.45] last year.
Moreover, after accounting for items that may be reclassified to statements of profit or loss, which includes fair value adjustment on assets held for sale, the total comprehensive income for FY24 stood at Rs4.83 billion compared to Rs43.56m last year.
Going by the results, the company's revenue grew by 30.3% to Rs728.52m as compared to Rs559.04m in FY23. Gross profit rose 44.3% to Rs351.18m in FY24.
The gross margins improved to 48.2% as compared to 43.5% last year.
During the period under review, the company's other income jumped significantly to Rs187.5m.
On the expense side, administrative expenses rose 16.4% from a year ago to Rs219.24m, while other operating expenses surged 1,088.5% to Rs21.69m.
On the tax front, the company received a tax credit worth Rs149.12m against a tax expense of Rs14.68m paid last year.
| Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Jun 24 | Jun 23 | % Change | |
| Sales | 728,524 | 559,042 | 30.32% |
| Cost of sales | (377,341) | (315,738) | 19.51% |
| Gross Profit/ (loss) | 351,183 | 243,304 | 44.34% |
| Administrative Expenses | (219,243) | (188,406) | 16.37% |
| Other Income | 187,503 | 5,734 | 3170.02% |
| Other Operating Expenses | (21,690) | (1,825) | 1088.49% |
| Profit/ (loss) before taxation | 297,753 | 58,807 | 406.32% |
| Taxation | 149,124 | (14,678) | - |
| Net profit/ (loss) for the period | 446,877 | 44,129 | 912.66% |
| Items that may be reclassified to statements of profit or loss | 4,386,698 | (571) | - |
| Total comprehensive income for the period | 4,833,575 | 43,558 | 10,996.87% |
| Basic earnings/ (loss) per share | 24.83 | 2.45 | - |
Amount in thousand except for EPS
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