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Engro Corporation witnesses 64% increase in semi annual profits

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Engro Corporation Limited (ENGRO)’s profits rose by 64% to Rs.11 billion in the half year ended June 30th 2018, due to 37% increase in Net sales, thus 48% increase in Gross profits.

The company’s reduced the cost of goods sold by almost 33%, and also endured lower finance expenses.

Although Other income dropped by 11%, Engro still managed to make higher profits by the period end.

In the previous year, Engro reported profits worth Rs.6.7 billion. Basic and diluted earnings per share increased to Rs.11.63 per share from Rs.7.21 per share during the half year ended June 30th 2017

 

Financial Results for the Half Year Ended June 30th 2018 ('000 Rupees)

 

Jun-18

Jun-17

% Change

Net Sales

                     71,733,077

                     52,241,332

37.31%

Cost of Sales

                  (49,908,340)

                  (37,566,034)

32.85%

Gross Profit

                     21,824,737

                     14,675,298

48.72%

Selling and distribution expenses

                     (3,564,360)

                     (3,463,816)

2.90%

Administrative expenses

                     (1,780,071)

                     (1,646,840)

8.09%

Other income

                       4,971,619

                       5,617,874

-11.50%

Other operating expenses including WPPF and WWF

                     (2,260,049)

                        (756,690)

198.68%

Finance cost

                     (2,444,152)

                     (2,579,841)

-5.26%

Share of income from joint ventures & associates

                        (501,605)

                           681,268

 

Profit before taxation

                     16,246,119

                     12,527,253

29.69%

Taxation

                     (5,191,198)

                     (5,809,961)

-10.65%

Profit after taxation

                     11,054,921

                       6,717,292

64.57%

Earnings per share – basic and diluted (Rupees)

                               11.63

                                  7.21

61.30%

 

 

 

Posted on: 2018-08-16T14:14:00+05:00

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