Thal Limited sees a drop of over 12% in 9MFY25 profit

MG News | April 30, 2025 at 11:14 AM GMT+05:00

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April 30, 2025 (MLN): Thal Limited (PSX: THALL) reported a decline of 12.56% YoY in its after-tax profits for the nine months of fiscal year 2025, with the company’s profit after tax decreasing to Rs6.23 billion [EPS: Rs68.18], compared to a profit of Rs7.13bn [EPS: Rs80.42] in the same period last year (SPLY).

The company's top line showed an increase of 12.87% YoY, reaching Rs23.41bn, compared to Rs20.74bn in SPLY.

The cost of sales also rose by 12.64% YoY, in line with the sales increase, resulting in a gross profit of Rs2.19bn, which marked a 15.18% improvement from Rs1.9bn in 9MFY24.

The gross margins improved slightly, standing at 9.37% compared to 9.18% in SPLY.

The decline in profits was attributed to higher taxation costs, which increased by 33.67% YoY to Rs2.59bn, compared to Rs1.94bn in SPLY.

Other income expanded by 14.22% YoY to stand at Rs4.5bn, as compared to Rs3.94bn in SPLY, helping mitigate the overall profit decline.

On the expense side, distribution and selling expenses rose by 13.55% YoY, amounting to Rs643.4m, and administrative expenses also saw an increase of 7.57% YoY to reach Rs1.47bn.

The company's finance costs, however, decreased by 17.13% YoY to Rs660.9m, compared to Rs797.5m in the corresponding period last year, benefiting from lower borrowing costs.

The company’s levy fell by 32.56% YoY to Rs322.34m, reflecting a positive adjustment during the review period.

CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE NINE MONTHS ENDED MARCH 31, 2025 (Rupees in '000)
Financial Metric	Mar-25	Mar-24	%Change
Revenue - net	23,413,466	20,742,982	12.87%
Cost of sales	(21,220,211)	(18,838,718)	12.64%
Gross Profit	2,193,255	1,904,264	15.18%
Distribution and selling expenses	(643,355)	(566,601)	13.55%
Administrative expenses	(1,470,005)	(1,366,541)	7.57%
Other charges	(41,631)	(31,879)	30.59%
Total expenses	(2,154,991)	(1,965,021)	9.67%
Other income	4,495,796	3,936,136	14.22%
Operating Profit	4,534,060	3,875,379	17.00%
Finance costs	(660,922)	(797,502)	-17.13%
Profit before levy and taxation	9,145,845	9,543,944	-4.17%
Levy	(322,344)	(477,964)	-32.56%
Profit before taxation	8,823,501	9,065,950	-2.67%
Taxation	(2,592,091)	(1,939,129)	33.67%
Profit after taxation	6,231,410	7,126,821	-12.56%
Attributable to:
- Equity holders of the Holding Company	5,524,353	6,516,180	-15.22%
- Non-controlling interest	707,057	610,641	15.79%
Profit after taxation	6,231,410	7,126,821	-12.56%
Basic and diluted earnings per share	68.18	80.42	-15.22%

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