Cost overrun weighs in on INIL's gross profits bringing down net profit by 19 percent

Dec-18

Dec-17

% Change

Net sales

                     32,781,689

                     31,151,679

5.23%

Cost of sales

                  (28,585,368)

                  (25,809,178)

10.76%

Gross profit

                       4,196,321

                       5,342,501

-21.45%

Selling and distribution expenses

                        (687,349)

                        (783,493)

-12.27%

Administrative expenses

                        (296,337)

                        (273,473)

8.36%

Reversal of impairment on trade debts

                             11,045

                                   905

1120.44%

Finance cost

                        (991,245)

                        (464,844)

113.24%

Other operating charges

                        (207,557)

                        (323,135)

-35.77%

Other income

                           419,547

                           149,173

181.25%

Share of profit in equity accounted investee - net of tax

                             18,788

                             21,642

-13.19%

Profit before taxation

                       2,463,213

                       3,669,276

-32.87%

Taxation

                        (387,300)

                     (1,095,511)

-64.65%

Profit after taxation for the year

                       2,075,913

                       2,573,765

-19.34%

Earnings per share - basic and diluted (Rupees)

                               10.85

                               14.40

-24.65%