RPL's profit soars 17.9% in Q3 fueled by tax credit

MG News | October 30, 2024 at 05:02 PM GMT+05:00
October 30, 2024 (MLN): Roshan Packages Limited (PSX: RPL) experienced a rise of 17.9% YoY in its profits, earning a profit after tax of Rs125.91 million [EPS: Rs0.89], compared to a profit of Rs106.77m [EPS: Rs0.75] in the same period last year (SPLY).
Going by the results, the company's top line dropped 23.9% to Rs2.37bn as compared to Rs3.11bn in SPLY.
The cost of sales fell by 23% but as the drop in sales was larger higher, the gross profit worsened by 32% to Rs198.82m in Q3 CY24.
Hence, despite weak sales and lower other income, RPL managed to report a higher profit due to tax credits and reduced finance costs.
During the period under review, other income slipped 18.7% to stand at Rs48.22m in Q3 CY24 as compared to Rs59.29m in SPLY.
On the expense side, the company's administration expenses rose 19.3% YoY to Rs71.2m.
Meanwhile, distribution and selling expenses fell 10.1% YoY to Rs28.91m, and other operating expenses dropped 56.1% YoY to Rs5.1m.
The company’s finance cost contracted by 56.4% and stood at Rs38.4m as compared to Rs87.99m in SPLY.
Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
---|---|---|---|
Sep 24 | Sep 23 | % Change | |
Sales | 2,369,115 | 3,111,236 | -23.85% |
Cost of sales | (2,170,297) | (2,818,974) | -23.01% |
Gross Profit/ (loss) | 198,818 | 292,262 | -31.97% |
Administration expenses | (71,200) | (59,702) | 19.26% |
Distribution and selling expenses | (28,909) | (32,165) | -10.12% |
Other Income | 48,219 | 59,293 | -18.68% |
Other Operating Expenses | (5,102) | (11,620) | -56.09% |
Finance cost | (38,396) | (87,987) | -56.36% |
Profit/ (loss) before taxation | 103,430 | 160,081 | -35.39% |
Final tax / levies | 22,482 | (53,313) | - |
Net profit/ (loss) for the period | 125,912 | 106,768 | 17.93% |
Basic earnings/ (loss) per share | 0.89 | 0.75 | - |
Amount in thousand except for EPS
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