Ghandhara Industries’ bottom-line income declines by 95%

06:09
October 28, 2019
MG

October 28, 2019 (MLN): Ghandhara Industries Limited (GHNI) has posted earnings of Rs. 13.7 million (EPS: Rs. 0.32) for the first quarter of current Fiscal Year, which translates into a decline of 95.5% as compared to the earnings of same period last year.

The company’s topline income fell by 30.92% on account of decline in volumetric sales. Nonetheless, the cost of sales also fell by a similar margin, which resulted in gross profits falling by 34.6%.

The increase in finance costs by 138% had put the company on the verge of incurring losses, but the tax rebate of Rs. 32.9 million during the aforesaid period saved the company from doing so.

Financial Results for the quarter ended September 30, 2019 ('000 Rupees)
	Sep-19	Sep-18	% Change
Sales	3,028,512	4,383,842	-30.92%
Cost of Sales	(2,621,534)	(3,761,040)	-30.30%
Gross profit	406,978	622,802	-34.65%
Distribution expenses	(148,130)	(136,430)	8.58%
Administrative expenses	(64,517)	(63,271)	1.97%
Other expenses	(473)	(19,509)	-97.58%
Other income	8,384	3,132	167.69%
Profit from operations	202,242	406,724	-50.28%
Finance cost	(221,500)	(92,883)	138.47%
(Loss)/profit before taxation	(19,258)	313,841
Taxation	32,988	(10,118)
Profit after taxation	13,730	303,723	-95.48%
Earnings per share – basic and diluted (Rupees)	0.32	7.13	-95.51%

Copyright Mettis Link News

Posted on: 2019-10-28T11:09:00+05:00

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1	PKR	278.20000	278.40000	278.40000	278.20000	01:03 PM
2	EUR	1.06690	1.06720	1.06720	1.06690	06:26 AM
3	GBP	1.23680	1.23700	1.23700	1.23680	06:26 AM
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31	LKR	298.08400	304.64400	304.64364	298.08350	05:38 AM
32	OMR	0.38498	0.38515	0.38515	0.38498	01:57 AM
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34	RUB	93.20000	94.60000	94.60000	93.20000	08:00 PM
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42	NGN	1,149.00000	1,153.00000	1,153.00000	1,149.00000	08:00 PM
43	KES	129.80600	132.61800	132.61797	129.80648	05:38 AM
44	AMD	365.11900	421.34900	421.34858	365.11879	05:38 AM
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46	XAU	2,390.01000	2,391.71000	2,391.71000	2,390.01000	04:19 AM
47	XAG	28.65580	28.68580	28.68580	28.65580	04:19 AM
48	XPT	931.58700	937.31300	937.31280	931.58720	02:00 AM
49	XPD	1,026.51000	1,034.34000	1,034.33590	1,026.50920	02:00 AM
2,120	VES	36.25120	36.34210	36.34210	36.25125	08:00 PM
2,212	UGX	3,759.90000	3,844.24000	3,844.24348	3,759.89879	05:38 AM
2,213	TZS	2,532.50000	2,626.21000	2,626.21245	2,532.49613	05:38 AM

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
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KMIALLSHR	33,051.27	33,022.390	32,695.54	298.524	0.912	317,804,569.0	19,951,289,708.390	19/04/2024 05:13 PM
BKTi	17,861.34	17,826.912	17,489.40	244.864	1.393	16,782,769.0	1,601,100,031.210	19/04/2024 05:13 PM
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Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	64,150.0	65,640.0	59,635.0	490.00
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