Karachi: At-Tahur Limited, a leading dairy company, reported its financial performance for the quarter ending September 30, 2024, with a profit after taxation of Rs. 24.42 million, down from Rs. 30.55 million during the same period in 2023.
The company's total revenue from contracts with customers reached Rs. 2.31 billion, a decrease from Rs. 2.53 billion recorded in the previous year. According to information available from the Pakistan Stock Exchange (PSX), this decline is attributed to various factors affecting the dairy sector, including increased operating and administrative expenses.
Operating costs for the quarter stood at Rs. 1.80 billion compared to Rs. 2.00 billion in 2023, showing some cost management despite the overall increase in expenses. Administrative and general expenses rose to Rs. 90.05 million, up from Rs. 71.48 million, while selling and marketing expenses also saw an uptick to Rs. 154.86 million from Rs. 149.92 million.
Other expenses, including costs not directly related to primary operations, amounted to Rs. 204.49 million, an increase from the previous year's Rs. 197.39 million. The company's profit from operations was reported at Rs. 89.18 million, down from Rs. 112.87 million in 2023.
Finance costs were reported at Rs. 48.84 million, which is a decrease compared to last year's Rs. 62.34 million. The reduction in finance costs reflects better management of financial liabilities and improved market conditions. The profit before levy and taxation stood at Rs. 40.34 million, lower than the previous year's Rs. 50.53 million.
Despite the challenges, At-Tahur recognized gains from changes in the fair value of dairy livestock, which contributed positively to the financial outcomes. The earnings per share were calculated at Rs. 0.11, a decrease from Rs. 0.14 in the previous year, reflecting the overall decrease in profitability.
The company's management expressed commitment to navigating the fluctuating market dynamics and focusing on strategic growth and efficiency to rebound in the upcoming quarters.