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