Sapphire Textile Mills quarterly profit jumps 45%

News Image

By MG News | October 30, 2024 at 10:27 AM GMT+05:00

0:00

October 30, 2024 (MLN): Sapphire Textile Mills Limited (PSX: SAPT) recorded a net profit of Rs1.03 billion [EPS: Rs47.65] during the quarter ending September 2024, up 45.0% from the profit of Rs712.58m [EPS: Rs32.85] in the same period last year (SPLY).

The company's revenue grew by 19.3% to Rs23.56bn as compared to Rs19.75bn in SPLY. Gross profit also rose 17.4% to Rs3.77bn in Q1 FY25.

The gross margins worsened to 16.0% as compared to 16.3% in SPLY.

During the period under review, other income contracted by 27.7% to stand at Rs325.26m in Q1 FY25 as compared to Rs450.02m in SPLY.

On the expense side, the company's administrative expenses rose 22.0% from a year ago to Rs266.79m, selling and distribution expenses rose 46.2% to Rs831.49m, and other operating expenses rose 56.8% to Rs105.22m.

The company’s finance cost fell by 27.0% and stood at Rs1.28bn as compared to Rs1.75bn in SPLY.

On the tax front, the company paid a higher tax worth Rs575.41m against an expense paid worth Rs337.81m in the corresponding period of last year, an increase of 70.3%.

This translates to an effective tax rate of 35.8% as compared to 32.2% in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
  Sep 24 Sep 23 % Change
Sales 23,559,078 19,747,025 19.30%
Cost of sales (19,790,546) (16,537,738) 19.67%
Gross Profit/ (loss) 3,768,532 3,209,287 17.43%
Administrative Expenses (266,786) (218,745) 21.96%
Selling And Distribution Expenses (831,495) (568,734) 46.20%
Other Income 325,256 450,017 -27.72%
Other Operating Expenses (105,215) (67,089) 56.83%
Finance Cost (1,281,324) (1,754,344) -26.96%
Profit/ (loss) before taxation 1,608,968 1,050,391 53.18%
Taxation (575,413) (337,815) 70.33%
Net profit/ (loss) for the period 1,033,555 712,576 45.04%
Basic earnings/ (loss) per share 47.65 32.85 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,792.51
179.92M
0.32%
422.36
ALLSHR 83,477.57
702.36M
0.48%
396.42
KSE30 40,782.94
63.97M
0.19%
77.64
KMI30 192,628.15
72.79M
0.02%
47.47
KMIALLSHR 55,976.35
418.31M
0.25%
140.64
BKTi 36,530.98
11.59M
0.59%
213.81
OGTi 28,530.95
7.36M
-0.04%
-12.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,845.00 108,880.00
107,680.00
390.00
0.36%
BRENT CRUDE 69.39 69.61
69.03
-0.19
-0.27%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 106.75
106.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.62 67.97
67.40
-0.31
-0.46%
SUGAR #11 WORLD 16.23 16.30
16.16
-0.05
-0.31%

Chart of the Day


Latest News
July 08, 2025 at 12:56 PM GMT+05:00

Oil prices dip after U.S. tariff moves, OPEC+ output hike


July 08, 2025 at 12:04 PM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market


July 08, 2025 at 11:55 AM GMT+05:00

NBP leads Pakistan’s banks in shareholder value surge


July 08, 2025 at 11:39 AM GMT+05:00

Pakistan-Afghanistan railway talks progress


July 08, 2025 at 10:42 AM GMT+05:00

Pakistan moves to regulate crypto with PVARA approval



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg