Engro Polymer and Chemical limited witnesses a growth of 166% in overall profit during the half year ended June 30th 2018.

MG News | August 02, 2018 at 03:07 PM GMT+05:00

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In a Board of Directors meeting held on August 2^nd 2018, Engro Polymer and Chemical Limited (EPCL) summarized its financial earnings for the Half Year ended on June 30^th 2018.

In the report issued to PSX, EPCL reported a 31% increase in Net revenue for the period, as compared to the half year ended on June 30^th 2017. Moreover, Gross Profit increased by 54.7%.

Other than that, Other Operating Expenses witnessed an increment of 190%, while Other income jumped by around 900%.

EPCL’s Operating profits grew by 86% and they managed to reduce their Finance Cost by24.56%.

Overall Profit for the period under review enjoyed a growth of 166%, whereas Earnings per share (basic and diluted) increased to Rs.4.2

Profit and Loss Account for the Half Year Ending on June 30th 2018 ('000 Rupees)
	Jun-18	Jun-17	% Change
Net revenue	17,101,613	13,045,657	31.09%
Cost of sales	(12,541,860)	(10,098,103)	24.20%
Gross profit	4,559,753	2,947,554	54.70%
Distribution and marketing expenses	(688,640)	(640,281)	7.55%
Administrative expenses	(336,180)	(257,444)	30.58%
Other operating expenses	(325,739)	(112,319)	190.01%
Other income	492,402	49,248	899.84%
Operating profit	3,701,596	1,986,758	86.31%
Finance cost	(298,363)	(395,516)	-24.56%
Profit before taxation	3,403,233	1,591,242	113.87%
Taxation	(619,562)	(545,072)	13.67%
Profit for the period	2,783,671	1,046,170	166.08%
Earnings per share - basic and diluted(Rupees)	4.20	1.58	165.82%

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