April 27, 2020 (MLN): SEARLE Company Limited has reported around 2% YoY decline in net profits to Rs 1.76 billion for nine months ended on March 31, 2020, compared to the profits of Rs 1.79 billion in the same period last year.
The earnings per share of the company clocked in at Rs 8.11 per share against Rs 8.34 in the corresponding period last year.
During the period, the company’s revenues jumped to 13% YoY due to the rise in volumetric sales and rose in demand for essential medicines due to COVID-19 pandemic. However, the full impact of this will be perceived in 4QFY20.
The gross margins of the company declined marginally to 48% from 49% due to seasonality.
On the cost front, the company Admin expenses reduced by 3.4% YoY while its Distribution and other expenses surged by 11.29% and 44.49% respectively.
The company also witnessed a jump in effective tax rate from 18% to 30% which put a limit on the company’s profitability.
Consolidated Statement of Profit or Loss for the Nine months ended March 31st, 2020 ('000 Rupees)
