Roshan Packages profit jumps 41%

MG News | October 04, 2024 at 03:12 PM GMT+05:00

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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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