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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