Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

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

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

In a Board of Directors meeting held on August 2nd 2018, Engro Polymer and Chemical Limited (EPCL) summarized its financial earnings for the Half Year ended on June 30th 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 30th 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%
Posted on: 2018-08-02T15:07:00+05:00

22459