Rafhan Maize posts nearly Rs2bn profit in Q1 2025, up 8% YoY

MG News | April 17, 2025 at 10:19 AM GMT+05:00

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April 17, 2025 (MLN): Rafhan Maize Products Company Limited (PSX: RMPL) reported a net profit of Rs1.96 billion for the quarter ended March 31, 2025, showing an 8.1% increase from Rs1.81bn in the same period last year.

The company also declared an interim cash dividend of Rs100 per share, translating to 1,000% of the face value.

Earnings per share (EPS) for the quarter rose to Rs211.67 from Rs195.77 in the prior year.

Net sales grew by 9.2% to Rs19.06bn compared to Rs17.45bn in Q1 2024, while cost of sales rose proportionately to Rs15.16bn, maintaining a stable gross margin.

Gross profit clocked in at Rs3.9bn, up 9.4% year-on-year.

Operating profit increased by 13.3% to Rs3.44bn, bolstered by a 61.9% surge in other income to Rs465.12 million.

Distribution and administrative expenses stood at Rs279.96m and Rs406.55m, respectively, with distribution costs jumping nearly 29%.

Finance costs swelled 26.3% to Rs246.61m, reflecting the impact of a high interest rate environment.

Profit before income tax reached Rs3.15bn, while after-tax profit settled at Rs1.96bn following a 23.7% rise in the tax burden to Rs1.19bn.

Condensed Interim profit and loss statement for the three months ended March 31, 2025 (in Rupees '000)	Mar-25	Mar-24	%Change
Sales - Net	19,060,166	17,450,495	9.2%
Cost of sales	-15,163,005	-13,888,672	9.2%
Gross Profit	3,897,161	3,561,823	9.4%
Distribution expenses	-279,959	-217,216	28.9%
Administrative expenses	-406,550	-397,601	2.3%
Other income	465,119	287,322	61.9%
Other expenses	-238,836	-201,305	18.6%
Operating profit	3,436,935	3,034,464	13.3%
Finance cost	-246,608	-195,317	26.3%
Profit before income tax and final tax	3,190,327	2,839,147	12.4%
Final taxation	-43,829	-67,555	-35.1%
Profit before income tax	3,146,498	2,771,592	13.5%
Taxation	-1,191,452	-963,341	23.7%
Profit after taxation	1,955,046	1,808,251	8.1%
Earnings per share - Basic and diluted (Rupees)	211.67	195.77

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