Latest news with #Rs9.41
Business Recorder
13-05-2025
- Business
- Business Recorder
Complete turnaround: SSGC reports Rs8.3bn profit in FY24
The Sui Southern Gas Company (SSGC) made public its accounts for the year ended June 30, 2024, announcing a massive consolidated profit of Rs8.3 billion during the period. The profit is a complete turnaround from a loss of Rs836 million incurred by SSGC in the same period of the preceding year, according to a notice sent to the Pakistan Stock Exchange (PSX) on Tuesday. The company's earnings per share (EPS) were recorded at Rs9.41 in the 12 months compared to a loss per share (LPS) of Re0.95 in the same period of the previous fiscal year. The profit was driven by a massive gain made by the utility on account of other income. SSGC's net sales (after tariff adjustments) rose to Rs465.8 billion in July-June 2024 compared to Rs451.5 billion in the same period the previous year, an increase of over 3%. Complete turnaround: SSGC reports Rs4.5bn profit in July-Sept quarter On the other hand, the company's cost of sales increased to Rs455.5 billion, a jump of nearly 8%. Resultantly, the company, which is involved in the transmission and distribution of natural gas in Sindh and Balochistan, posted a gross profit of Rs10.4 billion, a decrease of over 63% as compared to a gross profit of Rs28.2 billion in SPLY. On a consolidated basis, the company saw its other expenses stand at Rs32.2 billion compared to Rs43.2 billion, a decline of nearly 26%. On the other hand, SSGC's other income rose to Rs46.97 billion, compared to Rs23.28 billion in SPLY, up over 101%. Consequently, SSGC's profit before finance cost and taxation clocked in at Rs25.1 billion in FY24, as compared to an operating profit of Rs8.2 billion in SPLY, an increase of 206%. The cost of finance increased to Rs13.4 billion in the period ended July 30, 2024, compared to Rs8.6 billion in SPLY, a jump of over 55%. During the period SSGC paid only Rs2.4 billion in taxes.
Business Recorder
28-04-2025
- Automotive
- Business Recorder
Indus Motor profit after tax jumps 75% in 9 months of FY25
Indus Motor Company (IMC) posted a profit-after-tax (PAT) of Rs16.55 billion in the first nine months of the financial year 2024-25, significantly up by 75% as compared to the same period last year. The company shared this development in a notice to the Pakistan Stock Exchange (PSX) as well as in a separate statement. The company had recorded a PAT of Rs9.41 billion in 9MFY24. The earnings per share (EPS) of the company stood at Rs210.62, compared to Rs119.67 from corresponding previous year. It declared a third interim cash dividend of Rs50 per share, compared to Rs34 per share in the same period last year. According to the statement, IMC reported significant performance during the nine-months ended March 31, 2025, with total sales of completely knocked down (CKD) and completely built units (CBU) units increasing by 57% to 21,890 units, up from 13,922 units in the corresponding period last year. 'This surge is attributed to a recovery in consumer demand and the continued success of models like the Corolla Cross and Toyota Yaris, supported by timely feature enhancements and model updates,' it said. The net sales revenue rose to Rs145.53 billion, from Rs98.23 billion in the previous year's same period. 'This improvement reflects higher sales volume, stable input costs driven by a relatively favorable exchange rate, and effective cost management initiatives, including increased localisation.' Ali Asghar Jamali, CEO, IMC said: 'Indus Motor Company has delivered good performance in the nine months of FY24-25, due to decrease in interest rates, increasing consumer confidence and stable foreign exchange rates. The ongoing trend reinforces the need for a policy review, particularly the rationalisation of depreciation allowances on used car imports, to ensure a level playing field for local assemblers and improve government revenue streams. IMC remains committed to innovation, customer satisfaction, and contributing to the sustainable growth of the country's automotive sector'. He shared that used car imports still represent a significant portion (29%) of the local auto market by value in the current financial year. It is to be noted that during the said period imports of used vehicles increased modestly by 6%, totaling 29,590 units, compared to 27,859 units in same period last year.
