Sapphire Textile Mills quarterly profit jumps 45%
MG News | October 30, 2024 at 10:27 AM GMT+05:00
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 | 170,330.56 209.36M | 0.81% 1376.85 |
| ALLSHR | 102,776.00 765.10M | 0.85% 863.00 |
| KSE30 | 50,737.15 66.77M | 0.77% 386.66 |
| KMI30 | 243,202.84 63.94M | 0.72% 1744.16 |
| KMIALLSHR | 66,614.20 338.53M | 0.70% 461.96 |
| BKTi | 46,313.18 13.24M | 1.10% 505.34 |
| OGTi | 35,066.80 5.64M | 0.45% 158.54 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 61,395.00 | 62,095.00 61,365.00 | -775.00 -1.25% |
| BRENT CRUDE | 92.20 | 93.26 91.66 | 0.75 0.82% |
| RICHARDS BAY COAL MONTHLY | 123.75 | 124.00 123.75 | -1.25 -1.00% |
| ROTTERDAM COAL MONTHLY | 133.20 | 133.40 133.00 | -3.55 -2.60% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 88.88 | 90.00 88.28 | 0.68 0.77% |
| SUGAR #11 WORLD | 14.14 | 14.23 13.97 | 0.02 0.14% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|