Byco Petroleum Ltd. profits rise 55.19% to Rs. 2.12 billion

MG News | December 21, 2017 at 10:52 AM GMT+05:00

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Byco Petroleum Pakistan Ltd. today released Financial Results for the year ended 30^th June, 2017 after approval from Board Members at 20^th December.

Profitability for Byco increased significantly during the year as profit for the period went up by 55% to reach 2.122 billion Rupees.

Company’s Turnover went up by a decent margin as well as company reported 88 billion worth of Sales during 2017 against 77.57 billion in 2016.

According to the financial release, company’s profit before taxation went up as well suggesting efficiency in operations. Company’s Profit before Taxation rose 76.6% to reach 1.2 billion Rupees.

Byco reported an EPS of 0.40 per share, a 71.43% decline against 1.40 per share in 2016.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended
Key Financials	30^th June, 2017	30^th June, 2016	% Change
	Amounts in PKR ‘000
Turnover - net	88,572,580	77,702,167	13.99%
Cost of Sales	83,956,677	73,419,493	14.35%
Gross Profit	4,615,903	4,282,674	7.78%
Administrative Expenses	814,827	561,224	45.19%
Selling & Distribution Expenses	602,701	808,547	-25.46%
Other Expenses	1,107,223	978,393	13.17%
Other Income	1,616,382	1,318,577	22.59%
Operating Profit	3,707,534	3,253,067	13.97%
Finance Costs	2,439,972	2,535,445	-3.77%
Profit before Taxation	1,267,562	717,622	76.63%
Taxation	854,675	649,876	31.51%
Profit after Taxation	2,122,237	1,367,498	55.19%
EPS - Basic & diluted	0.40	1.40	-71.43%

Company release on Earnings Report can be accessed here.

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