AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, The Board of Directors of Pakistan Tobacco Company Limited announced on April 24, 2024, that no dividends, bonus shares, or rights shares will be issued for the first quarter ended March 31, 2024. The financial results for the period were detailed in a meeting held in Islamabad.
The company’s financial results for Q1 2024 revealed a gross turnover of Rs 74,147,292,000 compared to Rs 58,721,184,000 in Q1 2023. Despite the increase in turnover, the net turnover slightly increased to Rs 23,904,388,000 from Rs 22,583,893,000 in the previous year due to higher excise duties and sales tax which rose to Rs 38,724,816,000 and Rs 11,518,088,000 respectively.
Cost of sales also saw an increase, totaling Rs 13,183,585,000, compared to Rs 9,632,469,000 in the prior year. This increase resulted in a gross profit of Rs 10,720,803,000, down from Rs 12,951,424,000 in Q1 2023.
Operating expenses including selling, distribution, and administrative expenses were reported at Rs 1,542,509,000 and Rs 1,355,621,000 respectively, slightly up from the previous year. Other operating expenses decreased to Rs 634,781,000 from Rs 1,683,677,000.
The company’s profit before income tax for Q1 2024 was Rs 8,819,350,000, a decrease from Rs 9,812,329,000 in the same period last year. The profit after income tax was recorded at Rs 5,137,840,000 compared to Rs 6,743,924,000, marking a reduction. Earnings per share also decreased from Rs 26.40 to Rs 20.11.
The quarterly report will be transmitted separately through PUCARS within the specified timeframe.