February 28, 2024 (MLN): At-Tahur Limited (PSX: PREMA) revealed its earnings for six months ended December 31, 2023, wherein the profit after tax clocked in at Rs105.28 million [EPS: Rs0.48] compared to a profit of Rs373.15m [EPS: Rs1.71] in the same period last year (SPLY).
Going by the results, the company's top line rose 9.07% YoY to Rs5.06bn as compared to Rs4.64bn in SPLY.
However, the cost of sales also rose by 15.40% YoY, worsening the gross profit by 7.97% YoY to Rs1.16bn in 1HFY24.
The gross margins fell to 22.87% as compared to 27.11% in SPLY.
During the review period, other income expanded by 76.65% YoY to stand at Rs9.87m in 1HFY24 as compared to Rs5.59m in SPLY.
On the expense side, the company observed an increase in administrative and general expenses by 16.62% YoY and other expenses by 1.58% YoY to clock in at Rs154.14m and Rs374.7m respectively during the review period.
The company’s finance cost increased by 46.08% YoY and stood at Rs150.8m as compared to Rs103.24m in SPLY, mainly due to higher interest rates.
On the tax front, the company paid a higher tax worth Rs85.21m against the Rs13.06m paid in the corresponding period of last year, depicting a rise of 6.5x YoY.
| Unconsolidated (un-audited) Financial Results for half year ended December 31, 2023 (Rupees in '000) | |||
|---|---|---|---|
| Dec 23 | Dec 22 | % Change | |
| Sales – Net | 5,060,648 | 4,639,852 | 9.07% |
| Cost of sales | (3,903,099) | (3,382,122) | 15.40% |
| Gross Profit / (Loss) | 1,157,549 | 1,257,730 | -7.97% |
| Administrative and general expenses | (154,141) | (132,179) | 16.62% |
| Selling and marketing expenses | (297,293) | (272,814) | 8.97% |
| Other Income | 9,873 | 5,589 | 76.65% |
| Other Expenses | (374,697) | (368,887) | 1.58% |
| Finance Cost | (150,801) | (103,235) | 46.08% |
| Profit before taxation | 190,490 | 386,204 | -50.68% |
| Taxation | (85,209) | (13,059) | 552.49% |
| Net profit / (loss) for the period | 105,281 | 373,145 | -71.79% |
| Basic earnings/ (loss) per share | 0.48 | 1.71 | – |
Amount in thousand except for EPS
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Posted on: 2024-02-28T12:45:59+05:00
