May 13, 2025
Unaudited financials for the nine months ended March 31, 2025:
Elite Diagnostic Limited (ELITE) for the nine months ended March 31, 2025, reported a 9% increase in Income totaling $628.82 million compared to $577.10 million in the corresponding period last year. Income for the third quarter had an 11% increase to close at $227.09 million compared to $205.13 million for the comparable quarter of 2024.
Year to date, direct cost amounted to $159.28 million (2024: $159.52 million), minimal change from the prior year. Consequently, gross profit increased by 12% to $469.54 million compared to $417.58 million for the nine months ended March 31, 2024. The company booked gross profit of $177.18 million for the third quarter versus $149.59 million reported for the similar quarter of 2024.
Year to date, administrative expenses increased by 11% to close at $307.66 million (2024: $278.01 million), while depreciation & amortization increased by 24% from $102.64 million in 2024 to $126.85 million in the period under review. As a result, operating profit for the nine months ended March 31, 2025 amounted to $35.03 million, a 5% decrease relative to $36.93 million reported in 2024.
Foreign exchange gain for the nine months ended March 31, 2025, amounted to $2.07 million (2024: loss of $2.13 million). Foreign Gain for the third quarter amounted to $968,000 (2024: loss of $892,246). Finance costs totaled $27.96 million, a 24% decrease from the corresponding period last year. (2024: $36.76 million).
Profit Before Tax for the nine months ended March 31, 2025, amounted to $9.15 million (2024: Loss before Tax of $1.89 million). Profit Before Tax for the third quarter amounted to $26.80 million (2024: $12.63 million).
Tax charge incurred for the nine months ended March 31, 2025 amounted to $475,000 (2024: nil). Net Profit for the nine months amounted to $8.68 million (2024: Net Loss of $1.89 million) . For the third quarter, Net Profit was $26.80 million (2024: $12.63 million).
Consequently, Earnings Per Share for the nine months amounted to $0.02 (2024: LPS: $0.01), while Earnings Per Share for the quarter totaled $0.07 (2024: EPS: $0.04). The twelve month trailing EPS was $0.10 and the number of shares used in these calculations was 353,400,000.
Notably, ELITE’s stock price closed the trading period on May 13, 2025 at a price of $1.51 with a corresponding P/E ratio of 14.53x.
Balance Sheet Highlights
The company’s assets totaled $1.02 billion (2024: $1.03 billion). The movement in total assets was mainly attributable to 42% increase in ‘Receivables’ amounting to $157.74 million (2024: $111.05 million), which was offset by a 65.11 million decline in ‘Property, plant and equipment’ amounting to $695.57 million (2024: $760.68 million)
Shareholders’ equity was $519.66 million (2024: $482.93 million), representing a book value per share of $1.47 (2024: $1.37).
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