Byco Petroleum posts profits worth Rs. 2.287 billion
MG News | February 28, 2018 at 10:32 AM GMT+05:00
Byco Petroleum today released financial statements for the half year ending December, 31st 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.
| Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30th 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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