Cherat Packaging Ltd enjoys further growth in quarterly profits
MG News | October 24, 2018 at 03:08 PM GMT+05:00
October 23, 2018 (MLN): Growing net turnover benefitted Cherat Packaging limited during the quarter ended September 30, 2018 as the company’s bottom-line gains were jerked upwards by a notable amount of Rs.68.8 million.
Although total expenses rose and non-core income dropped considerably, a more impactful change was witnessed in finance cost and taxation expenses which both grew by over Rs.40 million, each.
Yet, the company managed to make it through with substantial gains in profits. Moreover, the basic and diluted earnings per share have been recorded at Rs.6.72 per share, while during the corresponding period of last year, EPS stood at Rs.5.1 per share
| Profit and loss account for the quarter ended September 30th 2018 ('000 Rupees) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Turnover - net | 1,733,385 | 1,465,870 | 18.25% |
| Cost of sales | (1,307,559) | (1,220,461) | 7.14% |
| Gross profit | 425,826 | 245,409 | 73.52% |
| Distribution costs | (19,233) | (22,612) | -14.94% |
| Administrative expenses | (22,360) | (17,049) | 31.15% |
| Other expenses | (22,511) | (13,843) | 62.62% |
| Other income | 2,329 | 19,421 | -88.01% |
| Operating profit | 364,051 | 211,326 | 72.27% |
| Finance cost | (66,686) | (22,972) | 190.29% |
| Profit before taxation | 297,365 | 188,354 | 57.88% |
| Taxation | (71,545) | (31,326) | 128.39% |
| Net profit for the year | 225,820 | 157,028 | 43.81% |
| Basic and diluted earnings per share (Rupees) | 6.72 | 5.10 | 31.76% |
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