Crescent Star and Allied Products Ltd. profits fall 5.96% to Rs. 837 million

Crescent Star & Allied Products Ltd. (CSAP) stock saw its stock prices dwindle on the exchange, after it reported profits shrinking by 5.96% during the half year ending December 30, 2017. The company also reported profits declining by more than Rs. 100 million during the last quarter of year 2017, with total profit for the period clocking in at Rs. 415.368 million rupees.

CSAP financial releases on the exchange show an increase of 28% in Cost of sales with net sales up by just 9.16% for the half year. Furthermore, the company incurred increase in finance costs as well. CSAP finance costs took away Rs. 150.32 million from company’s bottom line. Gross margin took a nosedive of more than 40%, shrinking from Rs. 1.55 billion during last year to Rs. 929 million in the period under review.

Company reported a more than 85% increase in income from investments, reaching Rs. 451 million. The management reported an EPS of Rs10.79 vs. an EPS of Rs. 11.47 during half year ending December, 2016. 

Board of Directors at the company also approved an interim cash dividend if Re. 1/- (i.e. @10%) per share for the year ending 30 June, 2018.

Company release on Earnings Report can be accessed here.