Hifsa Raja

Roshan Packages Limited’s gross revenue climbed 21% to Rs7.35 billion in the first nine months of the previous fiscal year 2021-22 (9MFY22) from Rs6.05 billion over the corresponding period of FY21.

The gross profit, showing a 6% growth, stood at Rs713 million in 9MFY22 compared to Rs674 million over the same period of FY21.

The operating profit stood at Rs289 million, 15% lower than Rs341 million in 9MFY21.

The after-tax profit showed a growth of 15% and ticked up to Rs289 million in 9MFY22 from Rs250 million in 9MFY21.

Earnings per share (EPS) stood at Rs2.04 in 9MFY22 compared to Rs1.77 over the same period in FY21, showing a growth of 15%, reports WealthPK.

As of June 30, 2021, directors, their spouse(s) and minor children owned 70.17% of the total shares of the company. Banks, development financial institutions, and non-banking financial institutions held 2.36% shares, Modarabas and mutual funds 5.57%, general public (local) 20.01%, (foreign) 0.28% and “others” owned 3.61% shares, respectively.

Financial Performance

During the fiscal year 2020-21, the company generated revenue of Rs8.11 billion over Rs6.08 billion in 2019-20, registering an increase of 33%. 

The gross profit for FY21 was Rs883 million, 61% higher than Rs546 million in FY20.

Operating profit for FY21 clocked in at Rs474 million, up 96% from Rs242 million in FY20.

Profit-before-tax for FY21 jumped to Rs468 million from Rs174 million in FY20, posting 168% growth year-on-year.

Similarly, profit-after-tax for FY21 surged to Rs345 million from Rs247 million in FY20, showing an increase of 39%.

The earnings per share (EPS) showed negative growth of Rs0.64 in 2018 and Rs0.19 in 2019. However, EPS jumped to Rs1.75 in 2020 and further surged to Rs2.44 in 2021.

Net profit/loss after tax remained low in 2018 and 2019, but improved in 2020 and 2021.

Roshan Packages Limited was incorporated in Pakistan under the now repealed Companies Ordinance, 1984 (now Companies Act, 2017).

The principal activity of the company is to procure and distribute lubricants and petroleum products. During the year ended June 30, 2017, Oil and Gas Regulatory Authority (Ogra) granted a licence to the company to establish an oil marketing company. On May 31, 2019, Ogra granted permission to the company to operate a new storage facility in Sahiwal and market petroleum products in the Punjab province.

Credit: Independent News Pakistan-WealthPk