Rafhan Maize harvests 37.7% profit surge in Q32024

News Image

By MG News | October 25, 2024 at 10:08 AM GMT+05:00

0:00

October 25, 2024 (MLN): Rafhan Maize Products Limited (PSX: RMPL) earned a profit after tax of Rs1.85 billion [EPS: Rs200.78], witnessing a surge of 37.74% YoY as compared to the profit of Rs1.34bn [EPS: Rs145.77] in the same period last year (SPLY).

Along with the results, the company announced an interim cash dividend of Rs100 per share i.e. 1,000% for the quarter ended September 30, 2024.

This is in addition to the two interim dividends already paid Rs75 and Rs100 per cash.

Going by the results, the company's sales inched up by 7.83% YoY to Rs16.69bn as compared to Rs15.47bn in SPLY.

Moreover, the cost of sales rose only by 2.2%, improving the gross profit by 7.83% to Rs16.68bn in Q3 2024.

During the period under review, other income contracted by 27.72% to stand at Rs175.9m in Q3 2024 as compared to Rs243m in SPLY.

On the expense side, the company's administrative expenses rose 3.56% YoY to Rs389m, selling and distribution expenses dropped by 11.42% YoY to Rs189m, and other operating expenses jumped by 32.35% YoY to Rs218.7m.

The company’s finance cost expanded by 40% and stood at Rs187.93m compared to Rs224.4m in SPLY.

On the tax front, the company paid Rs1.17bn, compared to Rs812.9m paid in the corresponding period last year.

Financial Results for the quarter ended September 30, 2024 ('000 Rupees)

 

Sep-24

Sep-23

% Change

Sales - net

 16,689,790

 15,477,672

7.83%

Cost of sales

 (12,859,913)

 (12,582,662)

2.20%

Gross profit

16,689,790

15,477,672

7.83%

Distribution expenses

-189033

-213412

-11.42%

Administrative expenses

-389165

-375770

3.56%

Other income

175916

243381

-27.72%

Other Expenses

-218791

-165315

32.35%

Impairment gain/(loss) on financial assets

2,636

-124

-

Operating profit

  3,211,440

 2,383,770

-16.25%

Finance cost

 (187,936)

 (224,405)

40.02%

Profit before taxation

  3,023,504

  2,159,365

43.79%

Taxation

(1,168,985)

   (812,990)

37.74%

Profit after taxation

 1,854,519

 1,346,375

37.74%

Earnings per share - basic and diluted (Rupees)

200.78

145.77

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,195.00 108,430.00
105,440.00
2445.00
2.31%
BRENT CRUDE 68.10 68.10
66.94
0.99
1.48%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
109.20
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.42 66.43
65.23
0.97
1.48%
SUGAR #11 WORLD 15.85 15.97
15.77
0.15
0.96%

Chart of the Day


Latest News
July 02, 2025 at 04:35 PM GMT+05:00

Oil gains slightly as market eyes Iran, OPEC+ moves


July 02, 2025 at 04:02 PM GMT+05:00

PSX Closing Bell: Record Breaker


July 02, 2025 at 03:54 PM GMT+05:00

PKR decreases by 19 paisa against USD


July 02, 2025 at 03:28 PM GMT+05:00

Ahsan Iqbal directs preparations for N-25 project launch


July 02, 2025 at 02:56 PM GMT+05:00

OMO Result: SBP injects Rs1.16tr



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg