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.
Comparison of Key Financials
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.
