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

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

30th June, 2017

30th 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.

Posted on: 2017-12-21T10:52:00+05:00