Earnings Report: Nimir Resins Ltd. (PSX: NRSL) today reported Financial Results for the Year ended June 30, 2017

MG News | September 20, 2017 at 02:54 PM GMT+05:00

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Nimir Resins Ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Sales for the period increased by 50.10 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 40.04 percent.

The board has not recommended any Dividend for the year. Whereas, the board issued 2.20% bonus shares for the period, the utilization scheme for the Right Issue fund totaled to Rs. 385 Million for repayment and/or adjustment of sponsor loans and Rs. 28 Million on BMR (balancing, modernizing and replacement) of production facilities.

Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Year Ended
Key Financials	2017	2016	% Change
	Amounts in PKR
Sales	2,668,804,664	1,778,018,742	50.10%
Cost of Sales	2,371,467,054	1,543,831,444	53.61%
Gross Profit	297,337,610	234,187,298	26.97%
Dist: Cost	45,437,159	45,675,999	-0.52%
Admin: Expenses	31,407,570	52,121,218	-39.74%
Operating Profit	55,661,267	136,390,081	-59.19%
Other operating expenses	60,992,853	36,284,159	68.10%
Finance cost	7,236,751	49,972,239	-85.52%
Other Income	11,075,512	22,744,813	-51.31%
Profit before Taxation	36,738,862	72,878,496	-49.59%
Taxation	74,336,650	19,796,345	275.51%
PAT	74,336,650	53,082,151	40.04%
EPS - Basic & diluted	0.27	0.24	12.50%

Company release on Earnings Report can be accessed here.

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