Descon Oxychem reports remarkable progress in quarterly earnings
MG News | October 24, 2018 at 02:07 PM GMT+05:00
October 23, 2018 (MLN): Descon Oxychem Limited (DOL)’s profits for the quarter ended September 30th, 2018 increased remarkably by 381% due to a significant increase top-line earnings.
On the whole, the company’s expenses as well as non-core income rose fairly. However, taxation increased by over Rs.74 million which as compared to other increments is a significant amount.
Nevertheless, DOL’s profit growth was retained and its earnings per share exhibited an increment of Rs.2.27 per share from Rs.0.47 per share.
| Consolidated financial results for the quarter ended September 30, 2018 ('000 Rupees) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Sales | 732,175 | 448,557 | 63.23% |
| Cost of Sales | (395,668) | (329,508) | 20.08% |
| Gross profit | 336,507 | 119,049 | 182.66% |
| Administrative Expenses | (24,293) | (20,422) | 18.96% |
| Distribution and selling cost | (16,553) | (16,776) | -1.33% |
| Other operating Income | 1,982 | 975 | 103.28% |
| Other expenses | (20,407) | (4,062) | 402.39% |
| Profit from operations | 277,236 | 78,764 | 251.98% |
| Finance cost | (744) | (1,583) | -53.00% |
| Profit before Taxation | 276,492 | 77,181 | 258.24% |
| Taxation | (45,365) | (29,168) | 55.53% |
| Profit for the period | 231,127 | 48,013 | 381.38% |
| Basic earnings per share (Rupees) | 2.27 | 0.47 | 382.98% |
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