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Ghandhara Industries’ bottom-line gains decline substantially

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 October 24, 2018 (MLN): Gandhara Industries Limited has recorded a decline 33.66% in its post-tax profits for the nine months period ended 30th September 2018. The reasons attributed to the drop in profits included considerable increase in cost of sales.

As per the financial results of the company, the cost of sales augmented by 20.17%, whereas the administrative and distribution expenses rose by 76.86% and 47.93% respectively, the combined effect  of which further worsened the profitability of the company.

Although, company enjoyed a large decline in taxes of about 95.5%, but its impact failed to pull company’s profit up.

The earnings per share of the company exhibited a decline of 33.64%.

Financial Results for the Nine months ended September 30th 2018 ('000 Rupees)
  Sep-18 Sep-17 % Change
Revenue                               4,383,842                               4,001,102 9.57%
Cost of Sales                            (3,761,040)                            (3,129,702) 20.17%
Gross profit                                  622,802                                  871,400 -28.53%
Distribution expenses                                (136,430)                                  (92,228) 47.93%
Administrative expenses                                  (63,211)                                  (35,740) 76.86%
Other expenses                                  (19,509)                                  (51,067) -61.80%
Other income                                       3,132                                       2,426 29.10%
Profit from operations                                  406,784                                  694,791 -41.45%
Finance cost                                  (92,971)                                  (11,661) 697.28%
Profit before taxation                                  313,813                                  683,130 -54.06%
Taxation                                  (10,110)                                (225,303) -95.51%
Profit after taxation                                  303,703                                  457,827 -33.66%
Other comprehensive loss for the year-net of tax                                              –                                                –    
Total comprehensive income                                  303,703                                  457,827 -33.66%
Earnings per share – basic and diluted (Rupees)                                       14.26                                       21.49 -33.64%

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Posted on: 2018-10-24T17:49:00+05:00

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