Agro Allianz Ltd reports a leap of 21.5% in annual profits

MG News | September 26, 2018 at 03:40 PM GMT+05:00

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September 26, 2018 (MLN): The overall profits of Agro Allianz Limited (formerly known as Karim Cotton Mills Limited), have taken an annual leap of 21.5% in during the year ended June 30^th 2018, as the profits went from Rs.6.9 million to Rs.8.4 million on a year-on-year basis.

The company’s Board of Directors meeting took place earlier today, where the board reviewed its financial earnings for the year.

The relevant report issued to PSX revealed that the company’s total income during the year touched a total of Rs.15.9 million during the year, up by 21.8%, YoY.

However the administrative expenses grew by 40% but the impact was not strong due to a low base effect.

Therefore, the company managed to keep its post-tax profits on an upward trend.

The company’s basic and diluted earnings per share however suffered a blow of 95% as they dropped from Rs.5.55 per share to Rs.0.36 per share, YoY

Statement of Profit and Loss for the year ended June 30th, 2018 (Rupees)
	Jun-18	Jun-17	%Change
Mark-up income	15,802,019	13,013,656	21.43%
Excess accrual written back	50,000	-
Total income	15,852,019	13,013,656	21.81%
Administrative and general expenses	(4,062,990)	(2,899,140)	40.14%
Profit before taxation	11,789,029	10,114,516	16.56%
Taxation	(3,435,564)	(3,236,645)	6.15%
Profit after taxation	8,353,465	6,877,871	21.45%
Basic and diluted earnings per share	0.36	5.55	-93.51%

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