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.
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Unconsolidated Profit and Loss Account – For the Three Months Ended, March 30th 2018 |
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|---|---|---|---|
|
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.
