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

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 30th 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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Posted on: 2018-09-26T15:40:00+05:00

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