September 07, 2023 (MLN): Sazgar Engineering Works Limited (SAZEW) displayed a remarkable financial prowess as the company reported a staggering 8.4x YoY surge in profits to Rs995 million [EPS: Rs16.46] in FY23 compared to Rs117.8mn [EPS: Rs1.95] in FY22.
The handsome profits also called for some dividends therefore the company announced to pay a cash dividend of Rs4 per share.
The company recorded a significant increase in net sales, which rocketed 77% YoY to Rs18.17 billion from R10.27bn during the same period last year.
On the expense side, the distribution cost went up by 37.28% YoY to Rs588mn, while administrative expenses inflated by 61.87% YoY to Rs239mn.
On the other hand, SAZEW enjoyed a significant increase in other income, which soared by 66% YoY to Rs30.4mn.
During the period under review, the finance cost of the company climbed substantially by over 3x YoY to Rs168mn, mainly due to higher interest rates.
Financial Results for the year ended on June 30, 2023 (Rupees) |
|||
---|---|---|---|
Jun-23 |
Jun-22 |
% Change |
|
Sales – net |
18,174,296,868 |
10,274,217,196 |
76.89% |
Cost of sales |
15,624,820,657 |
9,381,272,016 |
66.55% |
Gross profit |
2,549,476,211 |
892,945,180 |
185.51% |
Distribution cost |
588,484,168 |
428,677,498 |
37.28% |
Administrative expenses |
239,758,490 |
148,116,313 |
61.87% |
Other operating expenses |
102,401,168 |
17,173,228 |
496.28% |
|
930,643,826 |
593,967,039 |
56.68% |
Other income |
30,405,182 |
18,352,460 |
65.67% |
Operating profit before finance cost |
1,649,237,567 |
317,330,601 |
419.72% |
Finance cost |
167,801,822 |
53,878,028 |
211.45% |
Profit before taxation |
1,481,435,745 |
263,452,573 |
462.32% |
Taxation |
486,359,121 |
145,613,045 |
234.01% |
Profit after taxation |
995,076,624 |
117,839,528 |
744.43% |
Earnings per share – basic and diluted |
16.46 |
1.95 |
744.10% |
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Posted on: 2023-09-07T10:29:53+05:00