Engro Polymer & Chemicals Ltd. profits rise 71.34 percent to Rs. 1.447 billion

MG News | April 19, 2018 at 10:06 AM GMT+05:00

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Engro Polymer & Chemicals Ltd. (EPCL) today announced financial results for the three months period ending 31 March, 2018 reporting Net Revenue worth Rs. 8.687 billion. Furthermore, the company’s gross profit during the outgoing three months increased by 30 percent to reach 2.500 billion.

EPCL releases on the exchange show decent performance by the Chemicals Company during the three months ending March, 2017. Company’s Cost of Sales also jumped up by more than 27 percent to reach 6.187 billion.

On the expenses front, EPCL reported a 16.05 percent increase in Distribution and Marketing Expenses, 28 percent increase in Administrative Expenses, and a 143.39 percent increase in Other Operating Expenses. Furthermore, company’s other income went up by 1580 percent during the reported period.

EPCL Management managed to post a profit after taxation at Rs. 1.447 billion up 71.34 percent from same period last year’s tally of Rs. 844.710 million translating into an EPS of Rs. 2.18 vs. an EPS of Rs 1.27 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Net Revenue	8,687,202	6,812,363	27.52%
Cost of Sales	6,187,199	4,876,706	26.87%
Gross Profit	2,500,003	1,935,657	29.16%
Distribution and Marketing Expenses	367,619	316,782	16.05%
Administrative Expenses	162,837	127,314	27.90%
Other Operating Expenses	189,005	77,654	143.39%
Other Income	408,923	24,338	1580.18%
Operating Profit	2,189,465	1,438,245	52.23%
Finance Costs	157,599	234,203	-32.71%
Profit before Taxation	2,031,866	1,204,042	68.75%
Taxation	584,560	359,332	62.68%
Profit for the period	1,447,306	844,710	71.34%
EPS - Basic and diluted	2.18	1.27	71.65%
Accumulated Profit/(Loss) brought forward	121,668	1,628,905	-92.53%
Accumulated profit/(loss) before appropriation	1,568,974	(784,195)

Company release on Earnings Report can be accessed here.

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