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69% reduction in HinoPak Motors profits during the first quarter ending on June 30th 2018 earnings report

HinoPak Motors Limited (HINO) reported the summary of their Board of directors meeting, held on July 30th 2018, in which they finalized the financial earnings for the Quarter ending on June 30th 2018.

According to the report, Net sales increased by 8.4% while Gross profit dropped by 39.9%, as compared to the quarter ending on June 30th 2017

The company’s Other income increased by 67.9% but Other expenses reduced by 57.1%

There was an increase of 550% in Finance cost, thereby reducing the profit after taxation by 68.8%.

 Profit and Loss for the Quarter Ended June 30,2018
  2018 2017 % Change
Sales-net                        6,659,306                        6,142,169 8.4%
Cost of Sales                      (6,165,755)                      (5,320,652) 15.9%
Gross Profit                            493,551                            821,517 -39.9%
Distribution cost                            (98,461)                            (90,629) 8.6%
Administrative expenses                            (90,523)                            (96,047) -5.8%
Other income                              73,084                              43,530 67.9%
Other expenses                            (19,514)                            (45,515) -57.1%
Profit from operations                            358,137                            632,856 -43.4%
Finance (cost)/income                            (93,347)                            (14,366) 549.8%
Profit befor taxation                            264,790                            618,490 -57.2%
Taxation                         (145,621)                         (236,618) -38.5%
Profit after taxation                            119,169                            381,872 -68.8%
Other comprehensive income                                       –                                         –    
Total comprehensive income                            119,169                            381,872 -68.8%
Earnings per share – basic and diluted (Rupees) 9.61 30.79 -68.8%

 

Posted on: 2018-07-30T12:23:00+05:00

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