Cherat Packaging Ltd enjoys further growth in quarterly profits

 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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Posted on: 2018-10-24T15:08:00+05:00

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