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.
