September 11, 2024 (MLN): Thal Limited (PSX: THALL) posted a profit after tax of Rs757.51 million [EPS: Rs9.35] during the quarter ending June 2024, down 31.3% from a profit of Rs1.1 billion [EPS: Rs13.61] in the same period last year (SPLY).
Along with the results, the company announced a final cash dividend for the year ended June 2024 at Rs6 per share i.e. 120%.
This is in addition to interim dividend already paid at Rs2 per share i.e. 40%.
Going by the unconsolidated results, the company's sales revenue grew by 6.7% to Rs7.5bn as compared to Rs7.03bn in SPLY.
However, the cost of sales also rose by 11.8%, worsening the gross profit by 22.0% to Rs821.55m in Q4 FY24.
The gross margins fell to 11.0% as compared to 15.0% in SPLY.
During the period under review, other income contracted by 35.9% to stand at Rs880.6m in Q4 FY24 as compared to Rs1.37bn in SPLY.
On the expense side, the company's administrative expenses rose 14.3% from a year ago to Rs324.29m, selling and distribution expenses rose 38.7% to Rs232.32m, while other operating expenses fell 13.3% to Rs46.11m.
The company’s finance cost decreased by 17.1% and stood at Rs141.66m as compared to Rs170.77m in SPLY, likely due to a fall in borrowing costs.
On the tax front, the company paid a lower tax worth Rs200.27m against the Rs649.14m paid in the corresponding period of last year, depicting a fall of 69.2%.
This translates to an effective tax rate of 20.9% as compared to 37.0% in SPLY.
| Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Jun 24 | Jun 23 | % Change | |
| Sales | 7,500,205 | 7,028,945 | 6.70% |
| Cost of sales | (6,678,652) | (5,975,314) | 11.77% |
| Gross Profit/ (loss) | 821,553 | 1,053,631 | -22.03% |
| Administrative Expenses | (324,286) | (283,610) | 14.34% |
| Selling And Distribution Expenses | (232,324) | (167,484) | 38.71% |
| Other Income | 880,604 | 1,373,624 | -35.89% |
| Other Operating Expenses | (46,108) | (53,173) | -13.29% |
| Finance Cost | (141,659) | (170,774) | -17.05% |
| Profit/ (loss) before taxation | 957,780 | 1,752,214 | -45.34% |
| Taxation | (200,267) | (649,136) | -69.15% |
| Net profit/ (loss) for the period | 757,513 | 1,103,078 | -31.33% |
| Basic earnings/ (loss) per share | 9.35 | 13.61 | – |
Amount in thousand except for EPS
Copyright Mettis Link News
Posted on: 2024-09-11T10:02:28+05:00
