COLG net profits reach Rs7.19bn in 9MFY23, up by 55.3% YoY

April 20, 2023 (MLN):  Colgate-Palmolive Pakistan Limited (PSX: COLG) has unveiled its financial performance for the nine months period ended March 31, 2023 today wherein the company reported 55.3% YoY net profits worth Rs7.19 billion [EPS: Rs58.26] against the profits of Rs4.63bn [EPS: Rs38.17] reaped in the same period last year.
The company’s top line grew by 47% YoY to clock in at Rs66.14bn, as compared to Rs44.98bn in the same period last year.
The proportionally lower increase in the cost of sales helped the company achieve a 3.82% YoY higher gross margin.
The company continued to support its brands through media and promotional activities, thus selling and distribution costs went up by 37.7% YoY. Administrative expenses also increased by 27.3% YoY to Rs667mn in the review period.
Moreover, the company also witnessed a rise in its finance cost and tax payments by 6.1% YoY and 90.2% YoY respectively to stand at Rs111.81 million and Rs3.48bn, which put a limit on the company’s profitability.




Profit and Loss Account for the nine months period ended March 31, 2023 (Rs'000)






 


Mar-23


Mar-22


% Change




Turnover


    86,386,476


    59,613,953


44.9%




Sales Tax


  (13,613,832)


    (9,409,490)


44.7%




Trade and other discounts


    (6,631,526)


    (5,220,475)


27.0%




Net turnover


    66,141,118


    44,983,988


47.0%




Cost of Sales


  (47,983,935)


  (33,089,383)


45.0%




Gross profit


    18,157,183


    11,894,605


52.7%




Selling and distribution costs


    (6,904,999)


    (5,016,109)


37.7%




Administrative Expenses


        (667,055)


        (524,163)


27.3%




Other expenses


    (1,042,575)


        (586,676)


77.7%




Other income


       1,244,553


          801,432


55.3%




Profit from operations


    10,787,107


       6,569,089


64.2%




Finance cost and bank charges


        (111,818)


        (105,352)


6.1%




Profit before taxation


    10,675,289


       6,463,737


65.2%




Taxation


    (3,481,998)


    (1,830,451)


90.2%




Profit after taxation


       7,193,291


       4,633,286


55.3%




Earning per share -Basic and Diluted


59.26


38.17


55.3%




Copyright  Mettis Link News
Posted on: 2023-04-20T14:48:44+05:00
The post COLG net profits reach Rs7.19bn in 9MFY23, up by 55.3% YoY appeared first on Mettis Global Link .