PIBTL bounces back from losses in 1HFY24

MG News | February 27, 2024 at 03:09 PM GMT+05:00

0:00

February 27, 2024 (MLN): Pakistan International Bulk Terminal Limited (PSX: PIBTL) achieved a significant turnaround in the first half of fiscal year 2024, with its profits surging to Rs1.06 billion [EPS: Rs0.59] compared to a loss of Rs232.33m [LPS: Rs0.13] in the same period last year (SPLY).

The company reported a net revenue of Rs8.07bn, compared with Rs5.86bn a year earlier, according to the financial statement made available by the company on the local bourse on Tuesday.

The cost of services rose at a slower pace of 11.8%, boosting the gross profit margin to 38.5% from 24.2%.

Other income grew 24% YoY to Rs108.63m. Finance costs, however, climbed 28.6% YoY to Rs1.07bn, mainly due to higher interest rates.

On the taxation front, the company paid Rs883.8m, as against a tax credit of Rs78.16m received in SPLY.

Unconsolidated (un-audited) Financial Results for half year ended December 31, 2023 (Rupees in '000)
	Dec 23	Dec 22	% Change
Sales	8,072,185	5,861,930	37.71%
Cost of services	(4,965,236)	(4,441,248)	11.80%
Gross Profit	3,106,949	1,420,682	118.69%
Administrative Expenses	(317,333)	(313,485)	1.23%
Other Gains / (Losses)	108,177	(676,281)	-
Other Income	108,632	87,598	24.01%
Finance Cost	(1,066,029)	(828,999)	28.59%
Profit before taxation	1,940,396	(310,485)	-
Taxation	(883,861)	78,158	-
Net profit for the period	1,056,535	(232,327)	-
Basic earnings/ (loss) per share	0.59	(0.13)	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,895.00	89,510.00 85,135.00	3075.00 3.63%
BRENT CRUDE	60.55	60.65 59.40	0.73 1.22%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	96.90 96.90	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.54	56.72 55.61	0.54 0.96%
SUGAR #11 WORLD	14.85	14.87 14.45	0.37 2.56%