September 23, 2021 (MLN): Roshan Packages Limited (PSX: RPL) has posted net profits of Rs288mn for FY21, which was 43% higher compared to the profits of Rs200.9mn earned in FY20.
In line with the profits, the earnings per share of the company jumped by 37% YoY from Rs1.55/sh to Rs2.13/sh.
During the period company’s sales revenue rose from Rs5.2bn to Rs6.9bn, depicting a growth of 34% YoY as continuous improvement in technology, production techniques, business processes and customer satisfaction helped RPL to capture additional market share.
Although the cost of sales grew by 30% YoY, the higher revenues translated into higher gross profitability which rose by 61% YoY to Rs883mn. Therefore, the gross margins of the company swelled to 13% from 10% in FY20.
Moreover, despite the increase in RPL’s admin, selling and other expenses by 29%, 19% and 143% YoY, the operating profit of the company surged by 91% YoY to Rs445.4mn.
The financial charges were reduced by 50% YoY to Rs111.6mn, due to the decrease in the policy rate by the SBP and efficient fund management by the Company, which had a favourable impact on its bottom line. The net margins of the company remained stable at 4%.
On the taxation front, the company booked an effective tax at 30% for FY21, compared to tax income of Rs72.9mn in the previous FY20.
|
Financial Results for the year ended June 30, 2021 (Rupees) |
|||
|---|---|---|---|
|
|
Jun-21 |
Jun-20 |
% Change |
|
Revenue from contracts with customers |
8,118,728,427 |
6,085,148,294 |
33.42% |
|
Sales Tax |
(1,122,890,202) |
(852,177,670) |
31.77% |
|
Net Revenues |
6,995,838,225 |
5,232,970,624 |
33.69% |
|
Cost of revenue |
(6,112,740,638) |
(4,686,045,061) |
30.45% |
|
Gross profit |
883,097,587 |
546,925,563 |
61.47% |
|
Administrative expense |
(206,064,554) |
(159,541,038) |
29.16% |
|
Selling and distribution expense |
(197,356,671) |
(165,539,231) |
19.22% |
|
Reversal of allowance in trade receivable |
– |
24,866,683 |
-100.00% |
|
Other operating expense |
(34,257,533) |
(14,068,693) |
143.50% |
|
Operating profit/(loss) |
445,418,829 |
232,643,284 |
91.46% |
|
Other income |
76,790,795 |
118,465,992 |
-35.18% |
|
Finance cost |
(111,635,681) |
(223,123,998) |
-49.97% |
|
Profit/(loss) before taxation |
410,573,943 |
127,985,278 |
220.80% |
|
Taxation |
(122,451,292) |
72,971,342 |
|
|
Profit/(loss) for the period |
288,122,651 |
200,956,620 |
43.38% |
|
Earnings per share – basic and diluted (Rupees) |
2.13 |
1.55 |
37.42% |
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