September 3, 2020 (MLN): Descon Oxychem Limited has announced its financial result for the year ended June 30, 2020, which shows that the company earned a profit of Rs. 418.4 million, i.e. around 6% higher as compared to the earnings of last year.
The Earnings per share of the company stood at Rs. 3.42, i.e. 11.6% lower than that of the last year.
The company also announced a final Cash Dividend for the year at Rs. 1 per share i.e. 10%. Besides, the Board of Directors recommended issuing Bonus Shares in the proportion of 16 shares for every 100 shares held i.e. 16%.
The sales revenue of the company fell by 2.3% on account of HP prices, which recently went down by Rs. 9/kg. However, a report by Sherman Securities has stated that Covid-19 related demand suppression during 4QFY20 from textile sector was somewhat compensated by demand for HP as a disinfectant.
The impact of a rise in demand for HP was clearly seen in the gross profits, which depicted a growth of 3.7% over the year.
Other major highlights from the financial report include a 50% decline in other income, which was somewhat compensated by a 28.2% decline in non-core expenses.
Financial Results for the year ended June 30, 2020 (Rupees'000)
Cost of sales
Distribution and selling costs
Other operating expenses
Profit before taxation
Profit after taxation
Earnings per share
Copyright Mettis Link News