RPL: Profit amplifies 43% YoY in FY21

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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Posted on: 2021-09-23T14:17:58+05:00

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