February 26, 2025 (MLN): Clover Pakistan Limited (PSX: CLOV) reported a net profit of Rs171.77 million [EPS: Rs5.52] for the half-year ended December 31, 2024, compared to a loss of Rs8.27mn [LPS: Rs0.27] in the same period last year.The company’s revenue surged significantly to Rs2.07 billion, while the cost of sales also rose to Rs1.75bn.As a result, gross profit grew nearly 39 times to Rs321.08mn.Administrative and selling expenses increased about 5 times to Rs109.13mn, and other operating expenses jumped around 25 times to Rs13.73mn, impacting overall profitability.Meanwhile, other income dropped significantly to Rs3,000.Despite finance costs increasing nearly 48 times, the company posted a profit before taxation and levy of Rs198.12mn, compared to a loss of Rs8.02mn in the previous year.The company recorded a taxation expense of Rs26.34mn, resulting in a net profit of Rs171.77mn for the period, marking a strong turnaround from the previous year’s loss.Financial Results For The Half Year Ended December 31, 2024 (Rupees '000') Dec-24Dec-23%ChangeRevenue – net2,072,71513,19315610.72%Cost of sales(1,751,633)(5,113)34158.42%Gross profit321,0828,0803873.79%Administrative & selling expenses(109,136)(18,108)502.69%Operating profit / (loss)211,946(10,028)-2213.54%Other operating expenses(13,728)(540)2442.22%Other income32,544-99.88%Profit / (Loss) before taxation and levy198,221(8,024)-2570.35%Finance cost(98)(2)4800.00%Profit / (Loss) before taxation and levy198,123(8,026)-2568.51%Levy–(243) Profit / (Loss) before taxation198,123(8,269)-2495.97%Taxation(26,349)– Profit / (Loss) for the period171,774(8,269)-2177.32%Profit / (Loss) per Shares – basis5.52(0.27)-2144.44%Copyright Mettis Link NewsPosted on: 2025-02-26T10:17:15+05:00The post Clover Pakistan posts Rs172mn profit, up from Rs8mn loss last year appeared first on Mettis Global Link.