Sazgar Engineering reports 368% profit surge in H1FY25

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

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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%

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