Rupali Polyester faces Rs736mn loss in H1FY25

MG News | February 27, 2025 at 05:42 PM GMT+05:00
February 27, 2025 (MLN): Rupali Polyester Limited (PSX: RUPL) has reported a loss of Rs735.82 million for the half year ended December 31, 2024, marking a 92.71% increase compared to a loss of Rs381.83mn in the same period last year.
The decline in performance is primarily attributed to a drop in net sales, a significant gross loss, and rising financial costs.
During the period, net sales stood at Rs4.64 billion, reflecting a 13.59% decrease from the previous year’s Rs5.37bn.
Despite a 4.87% decline in the cost of sales, the company reported a gross loss of Rs435.4mn, compared to a gross profit of Rs34.69mn in the previous year.
Other income surged by 114.46% to Rs83.45mn, but it was not enough to offset operational expenses.
Total operating expenses fell by 10.50% to Rs425.54mn, with distribution costs and administrative expenses decreasing by 5.08% and 14.01%, respectively.
Finance costs declined by 13.76% to Rs269.94mn, while other operating expenses soared by 118.27% to Rs24.01mn.
Consequently, the company’s loss before taxation widened by 78.14% to Rs835.54mn, compared to Rs469.03mn last year.
The provision for taxation rose by 14.36% to Rs99.71mn, further squeezing profitability.
As a result, earnings per share (EPS) dropped to Rs-21.60 from Rs-11.21, reflecting the company’s ongoing financial challenges.
Financial Results For The Half Year Ended December 31, 2024 | |||
Particulars | Dec-24 | Dec-23 | %Change |
Sales - net | 4,643,420 | 5,373,606 | -13.59% |
Cost of sales | 5,078,824 | 5,338,913 | -4.87% |
Gross (loss) / profit | (435,403) | 34,693 | - |
Other income | 83,449 | 38,911 | 114.46% |
Total | (351,955) | 73,604 | -578.17% |
Distribution costs | 14,346 | 15,114 | -5.08% |
Administrative expenses | 117,248 | 136,356 | -14.01% |
Finance costs | 269,935 | 312,991 | -13.76% |
Other operating expenses | 24,010 | 11,000 | 118.27% |
Total expenses | 425,539 | 475,461 | -10.50% |
Loss before minimum tax differential and income tax | (777,494) | (401,855) | 93.48% |
Minimum tax differential | (58,043) | (67,170) | -13.59% |
Loss for the period before taxation | (835,537) | (469,025) | 78.14% |
Provision for taxation | 99,713 | 87,192 | 14.36% |
Loss for the period | (735,824) | (381,833) | 92.71% |
Earnings per share - basic and diluted | (21.6) | (11.21) | 92.69% |
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