SAZEW’s 9MFY23 profits clock in at Rs523.74mn

April 19, 2023 (MLN): Sazgar Engineering Works Limited (SAZEW) witnessed a substantial increase in its profits YoY to clock in at Rs523.74 million (EPS: Rs8.66) for the period of nine months ended on March 31, 2023, compared to Rs117.99m (EPS: Rs1.95) in 9MFY22.
The company recorded a significant increase in net sales, which rocketed 78.04% YoY to Rs12.59 billion from Rs7.07bn during the same period last year.
Meanwhile, SAZEW also reported higher expenses, distribution cost went up by 79.02% YoY to RS217.8m, while administrative expenses inflated by 36.85% YoY to Rs147.45m.
On the other hand, SAZEW enjoyed a significant increase in other income, which soared by 74.79% YoY to Rs17.6m.
During the period under review, the finance cost of the company climbed up substantially by 4.19x YoY to Rs133.21m, mainly due to higher interest rates.



 





Financial Results for the period of nine months ended on March 31, 2023 (Rupees)




 


Mar-23


Mar-22


% Change




Sales – net


                     12,593,016,354


                       7,073,227,219


78.04%




Cost of sales


                     11,301,677,995


                       6,515,677,705


73.45%




Gross profit


                       1,291,338,359


                           557,549,514


131.61%




Distribution cost


                         (217,800,691)


                         (121,663,220)


79.02%




Administrative expenses


                         (147,451,290)


                         (107,743,895)


36.85%




Other operating expenses


                           (53,939,609)


                           (16,337,864)


230.15%




 


                         (419,191,590)


                         (245,744,979)


70.58%




Other income


                             17,608,203


                             10,073,755


74.79%




Operating profit before finance cost


                           889,754,972


                           321,878,290


176.43%




Finance cost


                         (133,218,417)


                           (31,786,100)


319.11%




Profit before taxation


                           756,536,555


                           290,092,190


160.79%




Taxation


                         (232,791,478)


                         (172,094,590)


35.27%




Profit after taxation


                           523,745,077


                           117,997,60


343.86%




Earnings per share – basic and diluted


8.66


1.95


344.10%




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Posted on: 2023-04-19T13:51:45+05:00
The post SAZEW’s 9MFY23 profits clock in at Rs523.74mn appeared first on Mettis Global Link .