Rafhan Maize posts nearly Rs2bn profit in Q1 2025, up 8% YoY
MG News | April 17, 2025 at 10:19 AM GMT+05:00
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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