Karachi: Sanghar Sugar Mills Limited has released its financial results for the first quarter of fiscal year 2025, ending on December 31, 2024. The announcement was made following a Board of Directors meeting held on January 27, 2025, at the company's registered office in Karachi. The Board approved the Condensed Interim Financial Statements for the three-month period and recommended no cash dividend, bonus shares, right shares, or other entitlements for the period.

The company reported sales of 2.34 billion rupees, an increase from 1.67 billion rupees in the same period of the previous year. The cost of sales rose to 2.12 billion rupees from 1.59 billion rupees in Q1 FY2024. Despite the increased costs, Sanghar Sugar Mills achieved a gross profit of 218.68 million rupees, significantly higher than the 77.07 million rupees reported in the previous year.

Administrative expenses amounted to 37.56 million rupees, a slight increase from 37.48 million rupees in the corresponding period last year. Other operating expenses were reported at 11.14 million rupees, down from 14.70 million rupees. The company's distribution costs were 18.81 million rupees, an increase from 179,000 rupees in the previous year. Consequently, operating profit soared to 151.17 million rupees from 24.71 million rupees in the same quarter of the previous year.

Net profit for the period stood at 87.93 million rupees, a significant rise from 12.27 million rupees in Q1 FY2024. Earnings per share for the quarter were reported at 7.36 rupees, up from 1.03 rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), Sanghar Sugar Mills Limited's total assets increased to 6.80 billion rupees as of December 31, 2024, from 5.31 billion rupees at the end of September 2024. The company's non-current assets, including property, plant, and equipment, slightly decreased to 3.40 billion rupees from 3.43 billion rupees. However, current assets saw a significant increase to 3.40 billion rupees from 1.88 billion rupees.

In terms of equity and liabilities, the issued, subscribed, and paid-up capital remained unchanged at 119.46 million rupees. Unappropriated profit increased to 292.13 million rupees from 185.18 million rupees, while the surplus on revaluation of property, plant, and equipment decreased to 1.59 billion rupees from 1.60 billion rupees. The company's current liabilities rose to 3.84 billion rupees from 2.41 billion rupees.

Sanghar Sugar Mills Limited operates within the industrial sector, specifically focusing on sugar production. The company continues to navigate a challenging market environment, striving to maintain profitability and shareholder value.