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)
Revenue from contracts with customers
Cost of revenue
Selling and distribution expense
Reversal of allowance in trade receivable
Other operating expense
Profit/(loss) before taxation
Profit/(loss) for the period
Earnings per share – basic and diluted (Rupees)
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