April 29, 2019 (MLN): Dawood Hercules Corporation Limited has announced its financial earnings for the Quarter ended on March 31st 2019 , as per which company stated a considerable decline in its net profits by around 62.6% to Rs 6.7 billion from Rs 17.8 billion recorded in the same quarter last year.
During the period, company’s cost of sales grew by 30%, administrative expenses by 50% and finance cost by 32% which made the profits before tax drop by 55%.
Furthermore, the company's other income declined by 79% which put an additional dent on profitability of the company.
The company’s Earnings per share stood at Rs. 3.33 as compared to last year’s EPS of Rs.26.15, down by 87%.
The Board of Directors of the company announced an interim cash dividend for the above mentioned quarter at Rs.5 per share i.e. 50%.
|
Financial Results for the Quarter ended March 31st 2019 (Rupees '000') |
|||
|---|---|---|---|
|
|
Mar-19 |
Mar-18 |
% Change |
|
Net sales |
40,647,358 |
33,524,875 |
21.25% |
|
Cost of sales |
(28,645,147) |
(21,966,894) |
30.40% |
|
Gross profit |
12,002,211 |
11,557,981 |
3.84% |
|
Selling and distribution expenses |
(1,740,448) |
(1,839,444) |
-5.38% |
|
Administrative expenses |
(1,498,633) |
(1,001,374) |
49.66% |
|
Other income |
2,953,054 |
14,099,151 |
-79.06% |
|
Other operating expenses |
(701,896) |
(597,643) |
17.44% |
|
Finance costs |
(1,819,145) |
(1,372,491) |
32.54% |
|
Share of income from associates and Joint ventures |
409,732 |
416,051 |
-1.52% |
|
Profit before taxation |
9,604,875 |
21,262,231 |
-54.83% |
|
Taxation |
(2,930,948) |
(3,399,493) |
-13.78% |
|
Profits for the period |
6,673,927 |
17,862,738 |
-62.64% |
|
Basic and diluted earnings per share |
3.33 |
26.15 |
-87.27% |
27736
