Agriauto Industries reports slight change in net profits for 1HFY19

MG News | February 26, 2019 at 11:15 AM GMT+05:00

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February 26, 2019 (MLN): Agriauto Industries Limited’s profits for 1HFY19 have clocked in at Rs. 499 million, depicting slight change of 1.5% from last year’s results. The company’s EPS stood at Rs. 17.36.

The company’s sales revenue and cost of sales increased by almost the same amount i.e. Rs. 9 million, causing almost no change in the gross and operating profits.

Moreover, the profits for the second quarter were stated at Rs. 287 million (EPS: 10).

The Company also announced an Interim Cash Dividend at Rs. 3 per share i.e. 60%.

Profit and loss account for the six months ended December 31 2018 (Rupees'000)
	Dec-18	Dec-17	% Change
Net turnover	4,936,709	3,991,913	23.67%
Cost of sales	-4,114,762	-3,182,198	29.31%
Gross profit	821,947	809,715	1.51%
Distribution costs	-68,219	-58,344	16.93%
Administration expenses	-117,034	-115,350	1.46%
Operating profit	636,694	636,021	0.11%
Other expenses	-52,852	-52,961	-0.21%
Other income	30,403	30,640	-0.77%
Finance costs	-303	-207	46.38%
Profit before taxation	613,942	613,493	0.07%
Taxation	-114,056	-121,276	-5.95%
Profit after taxation	499,886	492,217	1.56%
Basic and diluted earnings per share	17.36	17.09	1.58%

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