Security Paper earns Rs386m in Q3, up 6%

October 21, 2024 (MLN): Security Paper Limited (PSX: SEPL) recorded an increase of 5.8% YoY in its earnings with its profit after tax clocking in at Rs386.19 million [EPS: Rs6.52] for the third quarter, compared to a profit of Rs365.19m [EPS: Rs6.16] reported in Q3 CY23.

According to the profit and loss account, the company's top line expanded by 19.1% to Rs2.06bn as compared to Rs1.73bn in SPLY.

The cost of sales rose by 19.1% but the greater growth in sales resulted in the gross profit to rise by 19.1% to Rs576.56m in Q3 CY24.

During the period under review, other income slipped 5.8% to stand at Rs245.48m in Q3 CY24 as compared to Rs260.53m in SPLY.

On the expense side, the company's administrative expenses rose 22.9% YoY to Rs123.72m, while operating expenses increased 10.2% YoY to Rs50.41m.

The company’s finance cost deflated by 80.7% and stood at Rs0.47m as compared to Rs2.45m in SPLY.

On the tax front, the company paid a higher tax worth Rs261.26m against the Rs230.44m paid in the corresponding period of last year, depicting a rise of 13.4%.

Amount in thousand except for EPS

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