Engro Polymer & Chemical witnesses doubled profits by virtue of increased non-core income

News Image

MG News | October 12, 2018 at 03:39 PM GMT+05:00

0:00

October 12, 2018 (MLN): Engro Polymer and Chemical Limited (EPCL)’s nine month consolidated profits for the period ended September 30th 2018 have witnessed an exceptional improvement of Rs.1.9 billion as the profits doubled over the corresponding period of previous year.

According to the PSX announcement on the company’s financial earnings, EPCL’s top-line earnings increased by a quarter on a year-on-year basis, while gross profits increased by 37%.

Although EPCL witnessed significant rise in overall expenses, its non-core income hiked by solid margin (Rs.559.7 million) while finance cost registered a drop of 23%. Therefore, Rs.171.7 million increment in tax provisions did not harm the overall profit growth much as it came up from around Rs.2 billion to Rs.3.9 billion, YoY.

EPCL’s basic and diluted earnings per share have also taken a leap of 86% as they came up from Rs.2.7 per share to Rs.5.03 per share.

Consolidated Profit and Loss Account for the nine months ended September 30th 2018 ('000 Rupees)

 

Sep-18

Sep-17

% Change

Net revenue

                     25,523,707

                     20,389,788

25.18%

Cost of sales

                  (18,723,724)

                  (15,429,700)

21.35%

Gross profit

                       6,799,983

                       4,960,088

37.09%

Distribution and marketing expenses

                        (995,422)

                        (899,534)

10.66%

Administrative expenses

                        (535,516)

                        (385,865)

38.78%

Other operating expenses

                        (470,237)

                        (269,466)

74.51%

Other income

                           620,266

                             60,530

924.72%

Operating profit

                       5,419,074

                       3,465,753

56.36%

Finance cost

                        (451,501)

                        (588,285)

-23.25%

Profit before taxation

                       4,967,573

                       2,877,468

72.64%

Taxation

                     (1,102,137)

                        (930,448)

18.45%

Profit for the period

                       3,865,436

                       1,947,020

98.53%

Earnings per share - basic and diluted(Rupees)

                                  5.03

                                  2.70

86.30%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,632.89
227.70M
1.65%
2252.92
ALLSHR 85,678.94
593.89M
1.22%
1030.59
KSE30 42,320.86
79.17M
1.86%
774.63
KMI30 195,394.79
83.30M
1.92%
3675.03
KMIALLSHR 56,463.88
342.44M
1.14%
636.14
BKTi 38,418.49
11.65M
1.56%
590.88
OGTi 27,792.72
10.97M
0.44%
122.04
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,605.00 119,915.00
118,035.00
-1025.00
-0.86%
BRENT CRUDE 68.36 69.01
68.31
-0.16
-0.23%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
0.95
0.99%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-0.65
-0.62%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.38 66.99
66.29
0.00
0.00%
SUGAR #11 WORLD 16.81 16.84
16.54
0.25
1.51%

Chart of the Day


Latest News
July 17, 2025 at 01:47 PM GMT+05:00

OMO Result: SBP injects over Rs902bn


July 17, 2025 at 01:03 PM GMT+05:00

Global value chains drove growth in developing nations


July 17, 2025 at 12:46 PM GMT+05:00

Donald Trump to land in Pakistan on September 18



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg