Pakistan Aluminium Beverage Cans Limited (PABC) has published its financial performance for the third quarter of 2024. 

The company reported a net profit of PKR 1.71 billion (US$6.15 million), reflecting a year-on-year increase of 15.1% from the PKR 1.48 billion (US$5.3 million) recorded in the same quarter last year.

The company’s revenue also saw a year-on-year rise of 6.5%, reaching PKR 5.77 billion (US$20.7 million), up from PKR 5.42 billion (US$19.48 million). Additionally, PABC reported an 8.2% increase in gross profit, which rose to PKR 2.24 billion (US$8 million), with the gross profit margin improving from 38.2% year-on-year.

This quarter proved strong for PABC, with other income surging by 418.6% to PKR 597.46 million (US$2.1 million). The net profit increase was supported by a 7.4% reduction in administrative costs, which decreased to PKR 192.4 million (US$0.69 million). However, selling and distribution expenses, along with other operational costs, increased sharply by 200.7% and 85.2%, respectively, totalling PKR 535.9 million (US$1.9 million) and PKR 136.33 million (US$0.49 million).

The company’s finance costs also rose by 34.6%, amounting to PKR 263.3 million (US$0.95 million). Despite these gains, PABC’s share price dropped by 4% during intraday trading on Tuesday, October 29, 2024.