Ferozsons' bottom-line earnings lift up by 49%
MG News | April 17, 2019 at 04:21 PM GMT+05:00
April 17, 2019 (MLN): Ferozsons laboratories Limited has reported bottom-line earnings of over Rs. 154 million (EPS: Rs. 5.12) for the nine months ended March 31, 2019, i.e. around 49% higher than the net earnings of the same period last year.
The company mainly benefited from a massive decline in tax payments by 33% and a decline in cost of sales by around 3%, which led to an increase in companies profits.
While major expense heads such as administrative expenses, distribution expenses, finance cost and other expenses increased by a fair margin, the overall impact on the company’s ultimate earnings was still impressive.
| Profit and Loss Account for the nine months ended March 31st 2019 (Rupees) | |||
|---|---|---|---|
|
| Mar-19 | Mar-18 | % Change |
| Sales | 3,583,420,213 | 3,384,337,118 | 5.88% |
| Cost of Sales | (2,133,205,241) | (2,196,149,013) | -2.87% |
| Gross Profit | 1,450,214,972 | 1,188,188,105 | 22.05% |
| Administrative Expenses | (254,753,550) | (227,480,447) | 11.99% |
| Selling and distribution expenses | (941,780,059) | (779,954,450) | 20.75% |
| Other Expenses | (65,619,640) | (42,417,039) | 54.70% |
| Other Income | 64,718,795 | 95,953,950 | -32.55% |
| Profit from Operations | 252,780,518 | 234,290,119 | 7.89% |
| Finance Cost | (17,423,336) | (9,115,711) | 91.14% |
| Profit before Taxation | 235,357,182 | 225,174,408 | 4.52% |
| Taxation | (80,656,268) | (121,464,154) | -33.60% |
| Profit for the Period | 154,700,914 | 103,710,254 | 49.17% |
| Earnings per share - Basic and Diluted | 5.12 | 3.44 | 48.84% |
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