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Descon Oxychem reports remarkable progress in quarterly earnings

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 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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Posted on: 2018-10-24T14:07:00+05:00

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