Agriauto Industries reports slight change in net profits for 1HFY19

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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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