Sazgar Engineering reports 368% profit surge in H1FY25

MG News | February 24, 2025 at 03:49 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

February 24, 2025 (MLN): Sazgar Engineering Works Limited (PSX: SAZEW) recorded a net profit of Rs6.63 billion [EPS: Rs109.6] during the half-year ending December 2024, up 368.4% from the profit of Rs1.41bn [EPS: Rs23.4] in the same period last year (SPLY).

The company declared an interim cash dividend of Rs10 per share (100%), in addition to the interim dividend of Rs10 per share (100%) already paid.

The company's revenue surged by 207.6% to Rs44.69bn compared to Rs14.53bn in SPLY, while gross profit jumped 311.36% to Rs12.83bn.

Gross margins improved significantly as cost efficiencies enhanced profitability.

During the period under review, other operating income rose 290.66% to Rs736.22mn, while other operating expenses increased 363.67% to Rs804.41mn.

Administrative expenses saw a sharp decline of 63.81% to Rs258.44mn, contributing to improved operational efficiency.

On the expense side, the company’s finance cost surged by 110.2% to Rs149.98mn, reflecting higher interest rates and financial liabilities.

Meanwhile, taxation rose significantly by 352.34% to Rs4.21bn.

Financial Results For The Half Year Ended December 31, 2024
Category	Dec-24	Dec-23	%Change
Sales - net	44,694,655,327	14,530,334,961	207.60%
Cost of sales	(31,867,700,528)	(11,412,153,131)	179.24%
Gross Profit	12,826,954,799	3,118,181,830	311.36%
Distribution and marketing costs	(1,508,044,853)	(556,033,892)	171.21%
Administrative expenses	(258,436,001)	(158,022,979)	63.54%
Operating Profit	11,060,473,945	2,404,124,889	360.06%
Other operating expenses	(809,414,813)	(173,489,476)	366.55%
Other operating income	736,215,613	186,462,592	294.83%
Finance cost	(149,811,660)	(71,353,421)	109.96%
Profit before Levy and Taxation	10,837,463,085	2,345,744,554	362.01%
Levy / final taxation	(946,969)	(392,274)	141.40%
Profit before Taxation	10,836,618,156	2,354,352,230	360.28%
Taxation	(4,211,395,977)	(931,021,324)	352.34%
Net Profit for the period	6,625,156,139	1,414,330,966	368.43%
Earnings per share - basic and diluted	109.6	23.4	368.38%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	165,596.07 264.75M	-0.54% -902.76
ALLSHR	100,017.71 623.24M	-0.46% -463.69
KSE30	49,464.92 86.97M	-0.60% -299.08
KMI30	238,952.40 97.00M	-0.58% -1388.16
KMIALLSHR	65,314.16 323.73M	-0.44% -285.47
BKTi	44,788.98 46.84M	-0.77% -347.65
OGTi	35,107.09 7.04M	-0.41% -145.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,165.00	81,895.00 78,675.00	-2455.00 -3.01%
BRENT CRUDE	109.47	109.75 106.26	3.75 3.55%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-2.95 -2.61%
ROTTERDAM COAL MONTHLY	109.00	109.00 108.75	1.25 1.16%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	101.16	101.57 97.23	4.24 4.37%
SUGAR #11 WORLD	14.78	15.07 14.67	-0.21 -1.40%