MACPAC Films Limited Reports Decline in Profits for Fiscal Year 2024

Karachi: MACPAC Films Limited has announced its financial results for the year ending June 30, 2024, revealing a decline in profits compared to the previous fiscal year. The company reported a revenue increase but faced higher costs that impacted its overall profitability.

According to information available from the Pakistan Stock Exchange (PSX), MACPAC Films generated net revenue of Rs. 5.62 billion, up from Rs. 5.51 billion in 2023. However, the cost of sales also increased significantly, rising from Rs. 4.19 billion in 2023 to Rs. 4.69 billion in 2024, resulting in a gross profit of Rs. 926.34 million, a decrease from Rs. 1.31 billion the previous year.

The company reported various expenses impacting operating profit, including administrative expenses of Rs. 302.62 million and marketing and distribution expenses of Rs. 156.58 million. Other operating expenses decreased from Rs. 254.99 million in 2023 to Rs. 31.31 million in 2024. The impairment loss on trade receivables rose to Rs. 149.98 million from Rs. 35.12 million.

The operating profit for the year was recorded at Rs. 435.68 million, a decline from Rs. 719.44 million in 2023. Finance costs slightly increased to Rs. 135.12 million compared to Rs. 133.74 million the previous year. Other income was reported at Rs. 118.08 million, slightly above Rs. 114.97 million in the prior year.

Profit before income taxes amounted to Rs. 417.61 million, down from Rs. 700.67 million in 2023. After accounting for income tax of Rs. 159.89 million, the profit after taxation was recorded at Rs. 257.72 million, a decrease from Rs. 379.21 million the previous year. The earnings per share fell to Rs. 4.35 from Rs. 6.39.

The financial statement underscores the challenges faced by MACPAC Films in the current fiscal year, reflecting an environment of increased costs and operational pressures.

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