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Gatron Industry’s bottom-line profits driven up by over Rs.1 billion

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 October 22, 2018 (MLN): Gatron Industries Limited (GATI) has shown remarkable progress over the year as its consolidated profits for the quarter ended September 30, 2018 grew by Rs.1 billion over the corresponding period of last year, reflecting an outstanding improvement in sales during the period.

According to an official statement on the company’s financial earnings for the period, GATI made 43% higher sales which resulted in gross profits to grow by Rs.473.4 million.

Although the company’s overall expenses increased by 57%, a noteworthy drop of 85% in finance costs, and gains in share of profit after income tax in associated company worth Rs.786.6 million, accounted for a sizeable rise in overall profits as they leapt from Rs.288.7 million to Rs.1.3 billion over the year.

Other than this, GATI’s basic and diluted earnings per share have grown by Rs.27.56 per share as they locked in at Rs.35.08 per share during the period under review.

Consolidated Profit and Loss statement for the quarter ended September 30, 2018 ('000 Rupees)

 

Sep-18

Sep-17

% Change

Sales

                            3,744,119

                            2,619,580

42.93%

Cost of sales

                            3,044,562

                            2,393,393

27.21%

Gross profit

                                699,557

                                226,187

209.28%

Distribution and selling costs

                                  48,783

                                  29,670

64.42%

Administrative expenses

                                  52,330

                                  50,870

2.87%

Other operating expenses

                                  45,953

                                  13,114

250.41%

 

                                147,066

                                  93,654

57.03%

Other income

                                     2,584

                                     1,749

47.74%

Operating profit

                                555,075

                                134,282

313.37%

Finance costs

                                     1,191

                                     8,221

-85.51%

Share of profit after income tax in associated company

                            1,000,145

                                213,567

368.31%

Profit before income tax

                            1,554,029

                                339,628

357.57%

Income tax

                                208,334

                                  50,966

308.77%

Profit after income tax

                            1,345,695

                                288,662

366.18%

Earnings per share – basic and diluted (Rupees)

                                     35.08

                                       7.52

366.49%

 

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Posted on: 2018-10-22T09:53:00+05:00

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