Lahore: Roshan Packages Limited has announced its financial results for the half-year period ending December 31, 2024, reporting a decrease in net revenue and profit compared to the same period last year. The Board of Directors, during their meeting on February 25, 2025, disclosed no issuance of bonus shares, right shares, or any other corporate actions.
The company's net revenue for the half-year was reported at 4.56 billion, a decline from 5.41 billion in the same period of 2023. The revenue from contracts with customers was recorded at 5.40 billion, down from 6.41 billion in the previous year, after accounting for sales tax of 832.37 million. The cost of revenue stood at 4.21 billion, resulting in a gross profit of 356.61 million, compared to 447.25 million in 2023.
The administrative and general expenses rose to 152.16 million from 112.43 million, while selling and distribution expenses marginally increased to 60.24 million from 58.70 million. There was a reversal of allowance for expected credit losses amounting to 35.70 million, showing an improvement from a provision of 41.09 million in the previous year. Other operating expenses were reported at 20.11 million.
Operating profit decreased to 159.80 million from 218.05 million in the prior year, despite a rise in other income to 41.49 million, up from 123.41 million. Finance costs reduced to 87.76 million from 165.57 million, leading to a profit before taxation of 110.33 million, down from 175.90 million in 2023.
After accounting for taxation of 36.53 million, the profit after taxation was recorded at 73.80 million, a decrease from 111.55 million in the previous year. Earnings per share for the period were 0.52, compared to 0.79 in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), Roshan Packages Limited has not undertaken any price-sensitive actions or entitlements during the reported period, maintaining operational stability. The company's market performance aligns with its designated market category of manufacturing and packaging.