BYCO's net profits fall sharply by 91% during 9MFY19
By MG News | April 30, 2019 at 11:31 AM GMT+05:00
April 30, 2019 (MLN): Byco Petroleum Limited (BYCO) , has announced its financial results for the nine months ended on March 31st 2019, as per which BYCO's net profits fell sharply by 91% with EPS recorded at Rs 0.05 compared to the same period last year, owing to currency depreciation which wreaked havoc on the company's bottom-line.
The net profit reorded at Rs.261.7 million as compared with Rs2.8 billion a year earlier.
During the period, the company’s net revenues were up by 35%, but more than proportionate increase in the cost of sales made the gross profits decline by 62%.
Additionally, the upsurge in operating expenses and finance cost put an additional dent on the profitability of the company.
| Consolidated Profit and Loss Account for the nine months ended March 31, 2019 ('000 Rupees) | |||
|---|---|---|---|
|
| Mar-19 | Mar-18 | % Change |
| Turnover - net | 145,219,429 | 107,570,754 | 35.00% |
| Cost of sales | (142,760,798) | (101,073,010) | 41.25% |
| Gross profit | 2,458,631 | 6,497,744 | -62.16% |
| Administrative expenses | (642,710) | (572,608) | 12.24% |
| Selling and distribution expenses | (343,156) | (280,101) | 22.51% |
| Other expenses | (554,733) | (974,353) | -43.07% |
| Other income | 807,204 | 490,908 | 64.43% |
|
| (733,395) | (1,336,154) | -45.11% |
| Operating profit | 1,725,236 | 5,161,590 | -66.58% |
| Finance cost | (2,133,515) | (1,937,653) | 10.11% |
| Profit before taxation | (408,279) | 3,223,937 | -112.66% |
| Taxation | 669,995 | (386,430) | -273.38% |
| Profit after taxation | 261,716 | 2,837,507 | -90.78% |
| Earnings per share - basic and diluted (rupees) | 0.05 | 0.53 | -90.57% |
Copyright Mettis Link News
Related News
.jpeg)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 130,967.67 51.79M |
0.22% 281.02 |
| ALLSHR | 81,571.71 279.35M |
0.33% 266.46 |
| KSE30 | 40,044.12 25.89M |
0.25% 98.67 |
| KMI30 | 191,107.43 29.81M |
0.21% 409.38 |
| KMIALLSHR | 55,146.05 136.07M |
0.13% 71.90 |
| BKTi | 34,881.72 4.15M |
0.91% 313.33 |
| OGTi | 28,564.23 2.41M |
-0.61% -175.12 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 109,570.00 | 110,525.00 109,570.00 |
-845.00 -0.77% |
| BRENT CRUDE | 68.65 | 68.89 68.42 |
-0.15 -0.22% |
| RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
-0.75 -0.76% |
| ROTTERDAM COAL MONTHLY | 108.45 | 109.80 108.45 |
-0.55 -0.50% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
| CRUDE OIL - WTI | 66.96 | 67.18 66.72 |
-0.04 -0.06% |
| SUGAR #11 WORLD | 16.37 | 16.40 15.44 |
0.79 5.07% |
Chart of the Day
Latest News
Top 5 things to watch in this week
FX Reserves
CPI
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|