Sazgar Engineering reports 368% profit surge in H1FY25

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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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