Exide Pakistan Limited experiences a loss of Rs.36.6 million during the first quarter ending on June 30th 2018: Earnings Report

MG News | July 30, 2018 at 02:37 PM GMT+05:00

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In a Board of Directors meeting held on July 30^th 2018 Exide Pakistan Limited discussed their financial earnings for the First Quarter ending on June 30^th 2018.

As compared to the quarter ending on June 30^th 2017. The company’s Sales decreased by 33.7% while the gross profit dropped by 38%

Fortunately, Exide managed to reduce their Total Operating Expenses by30%, however it still lost operating profit by 61%.

Other charges / expenses increased by 110%, thereby resulting in an overall loss.

Profit and Loss for the First Quarter Ended June 30,2018
	2018	2017	% Change
Sales	2,945,822	4,446,513	-33.7%
Cost of Sales	(2,609,512)	(3,903,776)	-33.2%
Gross Profit /(loss)	336,310	542,737	-38.0%
Distribution cost	(244,360)	(372,096)
Administrative expenses	(35,130)	(25,806)
Total Operating expenses	(279,490)	(397,902)	-29.8%
Operating profit	56,820	144,835	-60.8%
Other Operating income	2,394	664
	59,214	145,499
Finance charges	(38,392)	(30,612)	25.4%
Other charges	(20,664)	(9,803)	110.8%
	(59,056)	(40,415)
Profit before taxation	158	105,084	-99.8%
Taxation - Current	(36,823)	(35,727)	3.1%
-Deferred	-	-
	(36,823)	(35,727)
Profit after tax	(36,665)	69,357	-152.9%

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