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.
