Ghandara Industries undergoes losses worth Rs 105 million in 1HFY20

MG News | February 19, 2020 at 04:24 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

February 19, 2020 (MLN): Ghandara Industries Limited (GHNI) has announced its financial results for the half-year ended on December 31, 2019. As per the results, the company has incurred losses worth Rs 105 million (LPS: Rs 2.47) compared to last year net profits of Rs 383 million (EPS: Rs 8.99).

During the period, the cost of sales decreased by 21.27% YoY but more than a proportionate decrease in revenue (down by 22.29% YoY) caused gross profits to decrease by around 29% YoY to Rs 752 million.

The company’s distribution and administrative expenses went up by 1.20% YoY and 3% YoY respectively. However, other expenses plunged by 80% YoY to Rs 4.3 million.

More notably, the colossal increase in finance cost by 91.45% YoY, from Rs 254 million to Rs 488 million dented the company’s performance owing to higher interest rate and running finance requirement.

Financial Results for the half-year ended December 31, 2019 ('000 Rupees)
	Dec-19	Dec-18	% Change
Sales	5,880,616	7,567,541	-22.29%
Cost of Sales	(5,127,861)	(6,513,209)	-21.27%
Gross profit	752,755	1,054,332	-28.60%
Distribution cost	(279,010)	(275,689)	1.20%
Administrative expenses	(146,494)	(142,301)	2.95%
Other expenses	(4,371)	(22,265)	-80.37%
Other income	20,878	24,988	-16.45%
Profit (loss) from operations	343,758	639,065	-46.21%
Finance cost	(488,048)	(254,916)	91.45%
(Loss)/profit before taxation	(144,290)	384,149	-
Taxation	39,238	(1,010)	-
(Loss)/Profit after taxation	(105,052)	383,139	-
basic and diluted (loss)/earning per share(Rupees)	(2.47)	8.99	-

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,430.02 376.06M	-0.19% -346.57
ALLSHR	109,168.67 713.66M	-0.13% -139.83
KSE30	54,263.26 125.13M	-0.24% -128.56
KMI30	255,651.73 86.61M	-0.19% -483.04
KMIALLSHR	69,991.04 446.60M	-0.05% -33.30
BKTi	52,205.98 60.34M	-0.31% -161.74
OGTi	35,363.45 11.64M	0.17% 60.63

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,280.00	65,425.00 64,290.00	660.00 1.02%
BRENT CRUDE	81.90	84.44 81.74	-0.59 -0.72%
RICHARDS BAY COAL MONTHLY	107.75	0.00 0.00	2.00 1.89%
ROTTERDAM COAL MONTHLY	116.25	117.00 116.25	-0.10 -0.09%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	76.83	78.77 76.70	-0.46 -0.60%
SUGAR #11 WORLD	15.75	15.84 15.49	0.18 1.16%