Karachi: Buxly Paints Limited announced its financial results for the second quarter ending December 31, 2024, during a board meeting held on February 25, 2025, at its registered office in Karachi. The company, which operates in the designated market category of industrial goods, reported no cash dividend, bonus issue, right shares, or any other entitlements for this period.

The company's financial performance for the half-year revealed a net sales figure of 307.44 million, a decrease from the previous year's 347.31 million. The cost of sales stood at 248.94 million, compared to 287.81 million in the previous year, resulting in a gross profit of 58.50 million, slightly below last year's 59.50 million.

Operating expenses totaled 49.51 million, up from 44.87 million the previous year. Distribution and selling expenses were recorded at 28.17 million, while administrative expenses rose to 21.34 million from last year's 13.84 million. Consequently, the operating profit decreased to 8.99 million from 14.63 million in the previous year.

The company reported other income of 1.82 million, nearly unchanged from the previous year, leading to a profit before finance costs and other expenses of 10.81 million. Finance costs decreased to 4.60 million from 5.62 million, while other expenses were reduced to 0.43 million from 0.75 million.

Profit before levies and income tax was reported at 5.78 million, down from 10.08 million last year. Levies increased significantly to 2.04 million from 0.58 million, resulting in a profit before income tax of 3.75 million, compared to 9.50 million in the previous year. After accounting for income tax of 1.81 million, the net profit for the period stood at 1.94 million, a decline from 5.74 million in the same period last year.

According to information available from the Pakistan Stock Exchange (PSX), Buxly Paints' earnings per share for the half-year were 1.35, down from 3.99 in the previous year. For the quarter, the company reported a loss per share of 0.08, compared to earnings of 1.95 in the same quarter last year.

The company's financial position as of December 31, 2024, showed total equity of 189.33 million, up from 186.12 million the previous year. The increase was primarily driven by the total comprehensive income for the period, which amounted to 1.94 million.

Buxly Paints Limited has stated that its half-year report for the period ended December 31, 2024, will be transmitted through PUCARS separately within the specified time, as per the company's announcement.