BYCO incurs losses worth Rs836mn in 1QFY22
MG News | October 28, 2021 at 05:16 PM GMT+05:00
October 28, 2021 (MLN): Byco Petroleum Limited (BYCO) unveiled its financial statement for the first quarter of the fiscal year ended on September 30th, 2021, as per which the company observed a loss of Rs836 million (LPS: Rs 0.16), compared to the profit worth Rs286.29mn (EPS: Rs0.05) in 1QFY21.
The net revenues of the company showed a meager growth during the quarter, up by around 3% YoY to stand at Rs34.46 billion, whereas the cost of sales increased by 6% YoY, dragging the gross margins to 1.57% from 4.51% in the same period last year (SPLY).
With regards to major expense heads, the company encountered an 8.55% YoY rise in its administrative expenses whereas, the distribution and marketing expenses and other expenses dropped by 7% and 0.62%, respectively.
Similarly, the finance cost of the company declined by 13.8% YoY to clock in at Rs651.2mn in 1QFY22.
On the taxation side, the company paid 212.27mn during the review period, compared to the tax credit of Rs42.21mn in SPLY.
|
Consolidated Profit and Loss Account for the quarter ended September 30, 2021 ('000 Rupees) |
|||
|---|---|---|---|
|
Sep-21 |
Sep-20 |
% Change |
|
|
Turnover - net |
34,458,628 |
33,498,503 |
2.87% |
|
Cost of sales |
(33,915,909) |
(31,989,024) |
6.02% |
|
Gross profit |
542,719 |
1,509,479 |
-64.05% |
|
Administrative expenses |
(269,670) |
(248,424) |
8.55% |
|
Selling and distribution expenses |
(137,941) |
(148,351) |
-7.02% |
|
Other expenses |
(355,767) |
(358,056) |
-0.64% |
|
Other income |
248,047 |
239,488 |
3.57% |
|
(515,331) |
(515,343) |
0.00% |
|
|
Operating profit |
27,388 |
994,136 |
-97.25% |
|
Finance cost |
(651,172) |
(750,051) |
-13.18% |
|
Profit/ (Loss) before taxation |
(623,784) |
244,085 |
-355.56% |
|
Taxation |
(212,268) |
42,205 |
-602.95% |
|
Profit/ (Loss) after taxation |
(836,052) |
286,290 |
-392.03% |
|
Earnings/ (Loss) per share - basic (rupees) |
(0.16) |
0.05 |
- |
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