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
