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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