Karachi: MACPAC Films Limited, a prominent player in the packaging industry, disclosed its financial outcomes for the fiscal year ended June 30, 2024, reflecting a decline in both profits and earnings per share compared to the previous year. According to information available from the Pakistan Stock Exchange (PSX), the company's financial performance showed considerable changes in key financial indicators.

For the fiscal year 2024, MACPAC Films reported revenue from contracts with customers amounting to 5,619.41 million rupees, a slight increase from the 5,505.46 million rupees recorded in 2023. Despite higher revenue, the cost of sales saw a significant rise to 4,693.07 million rupees, up from 4,194.01 million rupees the previous year, reducing the gross profit from 1,311.45 million rupees in 2023 to 926.34 million rupees in 2024.

The company also saw increased expenditures across the board. Administrative expenses surged to 302.62 million rupees from 200.26 million rupees, while marketing and distribution expenses climbed to 156.58 million rupees from 101.65 million rupees. Other operating expenses, which were notably lower at 31.31 million rupees compared to 254.99 million rupees in 2023, contributed to the financial dynamics of the period.

Impairment losses on trade receivables were markedly lower at 0.15 million rupees compared to 35.12 million rupees in the prior year. Operating profit consequently fell to 435.68 million rupees, down from 719.44 million rupees in 2023.

Finance costs were relatively stable at 135.12 million rupees, and other income increased to 118.08 million rupees from 114.97 million rupees. The profit before income tax was recorded at 418.64 million rupees, significantly lower than the 700.67 million rupees reported in 2023.

After accounting for final taxes of 1.03 million rupees and income tax of 159.89 million rupees, the profit after taxation stood at 257.72 million rupees, compared to 379.21 million rupees in the previous fiscal year. The earnings per share also declined from 6.39 to 4.35.

MACPAC Films Limited operates in the designated market category of the Pakistan Stock Exchange, providing key insights into the packaging sector's financial health through its detailed financial disclosures.