Roshan Packages profit jumps 41%

October 04, 2024 (MLN): Roshan Packages Limited (PSX: RPL) recorded a profit after tax of Rs211.26 million [EPS: Rs1.49] in the financial year 2024 as its other income surged.

That is up 40.5% from the profit of Rs150.34m [EPS: Rs1.06] last year.

Along with the results, the company announced a final cash dividend of 10%.

Revenue inched up by 0.9% to Rs10.33bn as compared to Rs10.25bn in FY23. However, the cost of sales rose by 5.3%, worsening the gross profit by 30.5% to Rs885.68 million in FY24.

The gross margins fell to 8.6% as compared to 12.4% last year.

The company's other income soared 85.3% to stand at Rs271.46m in FY24 as compared to Rs146.47m last year.

On the expense side, the company's administrative expenses fell 7.5% from last year to Rs256.5m, selling and distribution expenses fell 67.9% to Rs125.29m, and other operating expenses fell 58.6% to Rs31.77m.

The company’s finance cost also decreased by 5.6% and stood at Rs300.71m as compared to Rs318.51m in SPLY.

On the tax front, the company paid a higher tax worth Rs207.62m against the Rs187.78m paid in the corresponding period of last year, depicting an increase of 10.6%.

This translates to an effective tax rate of 49.6% as compared to 55.5% in FY23.

Amount in thousand except for EPS

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