Roshan Packages profit jumps 41%
MG News | October 04, 2024 at 03:12 PM GMT+05:00
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.
| Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Jun 24 | Jun 23 | % Change | |
| Sales | 10,333,516 | 10,246,694 | 0.85% |
| Cost of sales | (9,447,832) | (8,972,174) | 5.30% |
| Gross Profit/ (loss) | 885,683 | 1,274,520 | -30.51% |
| Administrative Expenses | (256,503) | (277,297) | -7.50% |
| Selling And Distribution Expenses | (125,287) | (390,038) | -67.88% |
| Other Gains / (Losses) | - | (20,363) | - |
| Provision Reversed / (Charged) | (23,987) | - | - |
| Other Income | 271,456 | 146,475 | 85.33% |
| Other Operating Expenses | (31,769) | (76,665) | -58.56% |
| Finance Cost | (300,714) | (318,512) | -5.59% |
| Profit/ (loss) before taxation | 418,879 | 338,119 | 23.89% |
| Taxation | (207,617) | (187,781) | 10.56% |
| Net profit/ (loss) for the period | 211,262 | 150,338 | 40.52% |
| Basic earnings/ (loss) per share | 1.49 | 1.06 | - |
Amount in thousand except for EPS
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