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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