Byco Petroleum posts profits worth Rs. 2.287 billion

MG News | February 28, 2018 at 10:32 AM GMT+05:00

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Byco Petroleum today released financial statements for the half year ending December, 31^st 2017. The company reported net sales worth Rupees 62.634 billion whereas reporting a total of 2.287 billion worth of profits for the period.

The company during the period reported a 2.4% increase in Administrative Expenses, however, also reporting a 72.5% decrease in other income.

Byco Petroleum Management reported profit after taxation at Rupees 2.287 billion rising by more than 11733% percent during the period against last year’s profit of Rupees 19.330 million.

The management reported earnings per share of Rupees 0.430 per share against last year’s Rupees 0.004 per share.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net Sales	62,634,222	39,149,335	59.99%
Cost of Sales	57,908,412	37,902,755	52.78%
Gross Profit	4,725,810	1,246,580	279.10%
Administrative Expenses	418,124	408,340	2.40%
Selling and Distribution Expenses	160,273	154,775	3.55%
Other Expenses	620,268	424,039	46.28%
Other Income	334,157	1,214,587	-72.49%
Operating Profit	3,861,302	1,474,013	161.96%
Finance Costs	1,334,494	1,238,683	7.73%
Profit/(Loss) before Taxation	2,526,808	235,330	973.73%
Taxation	239,470	216,000	10.87%
Profit/(Loss) after Taxation	2,287,338	19,330	11733.10%
Earnings/(Loss) per share - basic and diluted	0.430	0.004	10650.00%

Company release on Earnings Report can be accessed here.

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