October 12, 2018 (MLN): Attock Petroleum Limited’s profits for the quarter ended September 30th 2018 have escalated by 16.35%, owing to an improvement in the top-line earnings.
The company’s financial earnings for the quarter were reviewed earlier today during the Board of Directors meeting, where a comparison with the previous year’s earnings was drawn.
According to the report on company’s financial earnings issued by PSX, the overall sales witnessed a hike of around Rs.19 billion, exhibiting a growth of almost 50.02%.
Since the company’s cost of sales grew by an almost equal margin of 51.1%, the gross profits increased by only 30.02%.
The impact of decrease in net finance income by 39.72% and profits of associated companies by 97.61%, combined with an increase in other charges by 20.37% led to the Profit before taxation increasing by a mere 16.09%.
Nevertheless, the company’s annual profits increased from Rs.1.3 billion to Rs.1.5 billion during the quarter ended September 30th 2018.
Earnings per share went up by 16.39% as they increased from Rs.13.36 per share to Rs.15.55 per share.
Consolidated Profit and Loss account for the quarter ended September 30th 2018 ('000 Rupees) |
|||
---|---|---|---|
|
30-Sep-18 |
30-Sep-17 |
% Change |
Sales |
67,310,275 |
48,245,823 |
39.52% |
Sales tax |
-9,504,398 |
-9,714,567 |
-2.16% |
NET SALES |
57,805,877 |
38,531,256 |
50.02% |
Cost of products sold |
-55,243,880 |
-36,560,824 |
51.10% |
GROSS PROFIT |
2,561,997 |
1,970,432 |
30.02% |
Other income |
229,165 |
206,026 |
11.23% |
Operating expenses |
-689,378 |
-542,576 |
27.06% |
OPERATING PROFIT |
2,101,784 |
1,633,882 |
28.64% |
Finance income |
316,679 |
345,163 |
-8.25% |
Finance costs |
-182,409 |
-122,422 |
49.00% |
Net finance income |
134,270 |
222,741 |
-39.72% |
Share of profit of associated companies |
1,608 |
67,378 |
-97.61% |
Other charges |
-113,132 |
-93,989 |
20.37% |
PROFIT BEFORE TAXATION |
2,124,530 |
1,830,012 |
16.09% |
Provision for income tax |
-577,000 |
-500,000 |
15.40% |
PROFIT FOR THE PERIOD |
1,547,530 |
1,330,012 |
16.35% |
Earnings per share – Basic and diluted |
15.55 |
13.36 |
16.39% |
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