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

MG News | October 30, 2024 at 05:02 PM GMT+05:00

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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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