Byco Petroleum Pakistan Limited reports profits at Rs. 3.417 billion

MG News | May 02, 2018 at 09:59 AM GMT+05:00

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Byco Petroleum Pakistan Limited (BYCO) today announced financial results for the three months period ending 31 March, 2018 reporting Sales at Rs. 138.936 billion; up 70.74 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 7.082 billion from Rs. 2.152 billion last year during the outgoing three months.

On the expenses front, BYCO reported 14.63 percent increase in Administrative Expenses, 7.02 percent increase in Selling and Distribution Expenses, whereas, Other Expenses incurred by the company went up by 36.06 percent during the period.

Furthermore, BYCO also reported a 63.16 percent decline in Other Income reaching Rs. 490.908 million during the three months.

Byco Petroleum Pakistan Limited reported profit after taxation at Rs. 3.417 billion against losses worth Rs. 128.253 million during the same period last year translating into an EPS of Rs. 0.64 vs. an EPS of Rs. -0.02 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Gross Turnover	138,936,341	81,373,862	70.74%
Sales Tax, Discount and other	31,365,587	19,037,162	64.76%
Turnover - Net	107,570,754	62,336,700	72.56%
Cost of Sales	100,487,972	60,183,817	66.97%
Gross Profit	7,082,782	2,152,883	228.99%
Administrative Expenses	591,672	516,150	14.63%
Selling and Distribution Expenses	265,791	248,357	7.02%
Other Expenses	974,353	716,106	36.06%
Other Income	490,908	1,332,531	-63.16%
Operating Profit	5,741,874	2,004,801	186.41%
Finance Cost	1,937,653	1,791,541	8.16%
Profit/(Loss) before Taxation	3,804,221	213,260	1683.84%
Taxation	386,430	341,513	13.15%
Profit/(Loss) after Taxation	3,417,791	(128,253)
Earnings/(loss) per share - Basic and diluted	0.64	(0.02)

Company release on Earnings Report can be accessed here.

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