Byco Petroleum Pakistan Limited reports profits at Rs. 3.417 billion

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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 30th 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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