Karachi May 6 2022: During the quarter ended March 31, 2022, the Roshan Packages registered a high double-digit growth in revenue of 29.5%, increasing the revenue to Rs 2,310 million from Rs 1,784 million in the same period last year.
Resultantly, the revenue for nine months has increased to Rs 6,350 million from Rs 5,225 million, registering an increase of 21.5%, compared to same period last year. This increase is a result of the Company’s focus on customer sasfacon, provision of internaonal quality products and increased market share.
In terms of gross profit and margin, the Company has achieved a 26.3% growth in gross profit, increasing it from Rs 247 million to Rs 311 million, registering an increase of Rs 64 million; the gross profit margin was also sustained at 13.5% compared to 13.8% in same period last year. For the nine months period ended March 31, 2022, the Company earned gross profit of Rs 714 million, which represents an increase of Rs 40 million against the same period last year.
The gross profit margin, however, has declined by 1.7%, mainly on account of increase in the cost of imported raw material, which in turn is attributable to significant devaluation of the Pak Rupee. Moreover, the spike in fuel and energy rates resulted in an increase of Rs 113 million in the fuel and power cost, which accounts for 66.4% increase vs the same period last year.
Despite the aforemenoned, the profitability for the quarter increased from Rs 97 million to Rs 101 million. Similarly, for the nine months ended March 31, 2022, the Company earned a profit after tax of Rs 289 million as compared to Rs 251 million in the comparable period last year, registering a 15.3% increase.
The Company specialises in world-class co-extruded films, flexible packaging, and corrugated packaging materials and solutions, all in tune with current industry trends.