Sazgar Engineering reports 368% profit surge in H1FY25
MG News | February 24, 2025 at 03:49 PM GMT+05:00
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% |
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