April 25, 2025 (MLN): Tariq Glass Industries Limited (PSX: TGL) reported a modest 0.92% increase in net profit for the nine-month period ended March 31, 2025, reaching Rs3.51 billion (EPS: Rs20.39), compared to Rs3.48bn (EPS: Rs20.2) in the same period last year (SPLY).
The company has declared an interim cash dividend for the financial year ending June 30, 2025, at a rate of 20%, or Rs2 per share, in addition to the interim cash dividend already paid on March 14, 2025, at the same rate of Rs2 per share.
Despite the small rise in net profit, the company saw a significant 15.51% growth in revenue, which surged to Rs24.83bn from Rs21.5bn in SPLY.
The increase in revenue was partly offset by a rise in the cost of sales, which climbed by 8.71% YoY to Rs17.14bn.
As a result, the gross profit improved by 34.23% YoY to Rs7.69bn, bolstering the gross margin for the period.
On the expense side, administrative expenses rose by 17.09% YoY, reaching Rs435.67 million, while selling and distribution expenses declined by 6.10% YoY to Rs379.35m.
Operating profit witnessed a robust 38.81% increase, reaching Rs6.88bn, driven by higher revenues.
However, other income decreased by 28.57% YoY to Rs113.54m, and finance costs reduced by 7.52% YoY to Rs376.99m, showing some relief in interest burden.
Notably, the company's share of loss from associates increased significantly by 287.83%, rising to Rs241.52m, which impacted the overall bottom line. Other expenses also saw a sharp 39.88% YoY increase, amounting to Rs467.86m.
As a result, profit before taxation rose by 13.02% YoY to Rs5.9bn, while taxation surged by 37.13% YoY to Rs2.39bn, slightly affecting net earnings.
| Financial Results for the Nine Month Ended March 31, 2025 | |||
| Category | Mar-25 | Mar-24 | %Change |
| Revenue | 24,831,285,126 | 21,496,370,285 | 15.51% |
| Cost of Sales | (17,139,214,626) | (15,766,001,948) | 8.71% |
| Gross Profit | 7,692,070,500 | 5,730,368,337 | 34.23% |
| Administrative Expenses | (435,669,693) | (372,069,156) | 17.09% |
| Selling and Distribution Expenses | (379,345,664) | (404,004,412) | -6.10% |
| Operating Profit | 6,877,055,143 | 4,954,294,769 | 38.81% |
| Other Income | 113,538,362 | 158,940,553 | -28.57% |
| Finance Cost | (376,986,537) | (407,630,057) | -7.52% |
| Bargain Purchase Gain | – | 915,162,011 | |
| Share of Loss of Associate | (241,516,500) | (62,274,011) | 287.83% |
| Other Expenses | (467,858,300) | (334,469,925) | 39.88% |
| Profit Before Taxation | 5,904,232,168 | 5,224,023,340 | 13.02% |
| Taxation | (2,394,493,835) | (1,746,146,204) | 37.13% |
| Net Profit for the Period | 3,509,738,333 | 3,477,877,136 | 0.92% |
| Earnings Per Share – Basic and Diluted (Rs.) | 20.39 | 20.2 | 0.94% |
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Posted on: 2025-04-25T16:57:22+05:00
