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AL CIRCLE

Pakistan Aluminium Beverage Cans reports jump in its profit in June quarter; profit stands at Rs387 million

EDITED BY : 2MINS READ

Pakistan Aluminium Beverage Cans (PABC) reported that its profit climbed to Rs387 million during the quarter ended June 30, 2021, from Rs16 million during June quarter 2020. The growth was due to hike in sales and drop in finance cost.

PABC’s sale came in at Rs1.9 billion in the three months under review as compared to Rs1.1 billion in the April-June period of last year.

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“Sales of the can producing company nearly doubled as they inched closer to Rs2 billion,” said Topline Securities analyst Sunny Kumar while talking to The Express Tribune. “Similarly, margins of the company rose from 22% to 40%.”

 “Another reason behind the surge in sales was that eateries were closed at the same time last year, hence the jump in sales was also witnessed due to the low base effect,” he said.

“Export of cans was also suspended during the same period last year, which reduced the base effect further.”

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The company’s earnings per share stood at Rs1.07 in April-June 2021, from Rs0.04 in April-June 2020, showed a notification sent by PABC to the Pakistan Stock Exchange. Selling and distribution expenses increased by 66% to Rs30.9 million in June quarter, from Rs18.6 million recorded in the same period of last year.

Other operating income stood at Rs4 million in the three months under review, down 10.9% from Rs4.5 million in the three months of 2020.

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EDITED BY : 2MINS READ

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