EPCL’s net profit declines by 82% in 1QCY20
MG News | April 15, 2020 at 04:52 PM GMT+05:00
April 15, 2020 (MLN): Engro Polymer and Chemicals Limited has declared the financial results for the first quarter ended March 31, 2020, which shows a profit after tax figure of Rs. 192.8 million (EPS: Rs. 0.21) i.e. 82% lower than the PAT of the same period last year.
According to a research report by BIPL Securities, the profits declined on the back of a fall in revenue by 24%, which was partially caused by the plant closure. higher fuel charges and a 1.8x increase in finance cost also dented the profitability of the company.
A decline in demand from the construction as well as the textile sector also took a toll on the company’s performance.
| Consolidated Profit and Loss Account for the Quarter ended March 31, 2020 ('000 Rupees) | |||
|---|---|---|---|
| 2020 | 2019 | % Change | |
| Net revenue | 7,057,942 | 9,343,634 | -24.46% |
| Cost of sales | (5,806,680) | (7,428,573) | -21.83% |
| Gross profit | 1,251,262 | 1,915,061 | -34.66% |
| Distribution and marketing expenses | (72,325) | (93,489) | -22.64% |
| Administrative expenses | (113,924) | (119,375) | -4.57% |
| Other operating expenses | (538,283) | (124,665) | 331.78% |
| Other income | 445,509 | 212,456 | 109.69% |
| Operating profit | 972,239 | 1,789,988 | -45.68% |
| Finance cost | (767,660) | (268,364) | 186.05% |
| Profit before taxation | 204,579 | 1,521,624 | -86.56% |
| Taxation | (11,739) | (427,466) | -97.25% |
| Profit for the period | 192,840 | 1,094,158 | -82.38% |
| Earnings per share - basic and diluted (Rupees) | 0.21 | 1.20 | -82.50% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 138,597.36 256.32M | -0.05% -68.14 |
| ALLSHR | 85,286.16 608.38M | -0.48% -413.35 |
| KSE30 | 42,340.81 77.13M | -0.03% -12.33 |
| KMI30 | 193,554.51 76.19M | -0.83% -1627.52 |
| KMIALLSHR | 55,946.05 305.11M | -0.79% -443.10 |
| BKTi | 38,197.97 16.53M | -0.59% -225.01 |
| OGTi | 27,457.35 6.73M | -0.94% -260.91 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 117,670.00 | 121,165.00 117,035.00 | -1620.00 -1.36% |
| BRENT CRUDE | 69.23 | 70.77 69.14 | -0.29 -0.42% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 66.03 | 67.54 65.93 | -0.20 -0.30% |
| SUGAR #11 WORLD | 16.79 | 17.02 16.71 | 0.05 0.30% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Weekly Forex Reserves Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|