April 19, 2023 (MLN): Sazgar Engineering Works Limited (SAZEW) witnessed a substantial increase in its profits YoY to clock in at Rs523.74 million (EPS: Rs8.66) for the period of nine months ended on March 31, 2023, compared to Rs117.99m (EPS: Rs1.95) in 9MFY22.
The company recorded a significant increase in net sales, which rocketed 78.04% YoY to Rs12.59 billion from Rs7.07bn during the same period last year.
Meanwhile, SAZEW also reported higher expenses, distribution cost went up by 79.02% YoY to RS217.8m, while administrative expenses inflated by 36.85% YoY to Rs147.45m.
On the other hand, SAZEW enjoyed a significant increase in other income, which soared by 74.79% YoY to Rs17.6m.
During the period under review, the finance cost of the company climbed up substantially by 4.19x YoY to Rs133.21m, mainly due to higher interest rates.
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Financial Results for the period of nine months ended on March 31, 2023 (Rupees) |
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|
|
Mar-23 |
Mar-22 |
% Change |
|
Sales – net |
12,593,016,354 |
7,073,227,219 |
78.04% |
|
Cost of sales |
11,301,677,995 |
6,515,677,705 |
73.45% |
|
Gross profit |
1,291,338,359 |
557,549,514 |
131.61% |
|
Distribution cost |
(217,800,691) |
(121,663,220) |
79.02% |
|
Administrative expenses |
(147,451,290) |
(107,743,895) |
36.85% |
|
Other operating expenses |
(53,939,609) |
(16,337,864) |
230.15% |
|
|
(419,191,590) |
(245,744,979) |
70.58% |
|
17,608,203 |
10,073,755 |
74.79% |
|
|
Operating profit before finance cost |
889,754,972 |
321,878,290 |
176.43% |
|
Finance cost |
(133,218,417) |
(31,786,100) |
319.11% |
|
Profit before taxation |
756,536,555 |
290,092,190 |
160.79% |
|
Taxation |
(232,791,478) |
(172,094,590) |
35.27% |
|
Profit after taxation |
523,745,077 |
117,997,60 |
343.86% |
|
Earnings per share – basic and diluted |
8.66 |
1.95 |
344.10% |
Copyright Mettis Link News
Posted on: 2023-04-19T13:51:45+05:00
