Pakistan Aluminium Beverage Cans Ltd posts strong fiscal performance for Q3 2024, with net profit growing 15%

Pakistan Aluminium Beverage Cans Limited (PABC), the first can manufacturing plant in Pakistan with a 1.2 billion cans production capacity in a year, has reported its financial result for the September quarter of 2024, revealing a net profit of PKR 1.71 billion (US$6.15 million), up 15.1 per cent Y-o-Y from PKR 1.48 billion (US$5.3 million).

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The company’s revenue also rose 6.5 per cent Y-o-Y to PKR 5.77 billion (US$20.7 million), as compared to PKR 5.42 billion (US$19.48 million), and gross profit jumped by 8.2 per cent to PKR 2.24 billion (US$8 million).

The gross profit margin also increased Y-o-Y from 38.2 per cent to 38.2 per cent. The September quarter proved to be a season of robust financial gains for the company with its other income growing by 418.6 per cent to PKR 597.46 million (US$2.1 million).

The company’s profit growth was partly driven by lower administrative expenses, but at the same time offset by selling and distribution expenses and other operating expenses. The administrative expenses fell by 7.4 per cent Y-o-Y to PKR 192.4 million (US$0.69 million), while the latter two skyrocketed by 200.7 per cent and 85.2 per cent to PKR 535.9 million (US$1.9 million) and PKR 136.33 million (US$0.49 million), respectively.  

The company’s finance cost increased by 34.6 per cent and stood at PKR 263.3 million (US$0.95 million). However, despite the overall strong fiscal performance during the third quarter of 2024, Pakistan Aluminium Beverage Cans Limited’s shares fell 4 per cent during intraday trade on Tuesday, October 29.