Lasco Distributors has reported a net profit of $1.34 billion for the financial year ended March 31, slightly down from $1.45 billion posted for the previous year.
The company earned over $30.2 billion in revenue, an increase of nearly $1.1 billion year on year.
But rising costs weighed on profitability, with the cost of sales climbing to $25 billion and administrative and other expenses exceeding $3 billion.
Lasco's operating profit came in at $1.69 billion, down from $1.81 billion last year.
Finance costs also jumped significantly from just $509,000 to $16.8 million. Earnings per share dipped to $37.97 compared to $41.04 in the previous year.
Despite the profit dip, Lasco saw modest gain in other comprehensive income with $3.5 million in unrealised gains on financial instruments.
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