Agriautos' annual profits surge by 28.7%
MG News | August 20, 2018 at 10:51 AM GMT+05:00
Agriauto Industries Limited observed an increase of 28.7% in its annual profits, as they increased from Rs.745.6 million to Rs.959.7 million during the year ended 30th June 2018.
The financial earning for the period were compared with the financial earnings for the year ended on June 30th 2017, during the company’s Board of Directors meeting held on August 17th 2018.
The Company witnessed 12.3% increase in Gross profits, and 14.5% increase in Operating profits.
Agriauto’s other income increased by half and their tax provisions reduced by almost 14%.
Other than this, the company’s Earnings per share increased by 28.7%, from Rs.25.89 per share to Rs.33.32 per share.
| Financial Results for the Year Ended June 30th 2018 ('000 Rupees) | |||
|
| Jun-18 | Jun-17 | % Change |
| Turnover - net | 8,315,021 | 7,115,296 | 16.86% |
| Cost of sales | (6,722,821) | (5,697,055) | 18.01% |
| Gross profit | 1,592,200 | 1,418,241 | 12.27% |
| Distribution cost | (127,153) | (128,368) | -0.95% |
| Administrative expenses | (225,983) | (207,871) | 8.71% |
| Operating profit | 1,239,064 | 1,082,002 | 14.52% |
| Other expenses | (101,376) | (94,891) | 6.83% |
| Other income | 70,665 | 46,778 | 51.06% |
| Finance cost | (597) | (522) | 14.37% |
| Profit before taxation | 1,207,756 | 1,033,367 | 16.88% |
| Taxation | (248,039) | (287,738) | -13.80% |
| Profit after taxation | 959,717 | 745,629 | 28.71% |
| Earnings per share - basic and diluted (Rupees) | 33.32 | 25.89 | 28.70% |
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