Ghandhara Nissan witnesses decent gains in quarterly profits

 October 23, 2018 (MLN): Decent gains in Ghandhara Nissan Limited (GHNL)’s top-line earnings have lifted the company’s profits by 5.8% as they log in at Rs.193.3 million for the nine month period ended September 30, 2018.

AS compared to the first quarter of last year, the company’s net revenue has surged by 81% while Gross profits have increased by 32%.

Although overall expenses grew while non-come dropped, the profit growth could not be resisted.

However, the company’s basic and diluted earnings per share have come down by Rs.0.30 per share as they have been recorded at Rs.3.39 per share against Rs.3.69 per share recorded during the same period last year.

Consolidated financial results for the first quarter ended September 30, 2018 ('000 Rupees)

 

Sep-18

Sep-17

% Change

Revenue – net

                      1,783,984

                         984,264

81.25%

Cost of sales

                   (1,469,757)

                       (746,819)

96.80%

Gross profit

                         314,227

                         237,445

32.34%

Distribution cost

                         (18,178)

                         (13,037)

39.43%

Administrative expenses

                         (61,131)

                         (55,434)

10.28%

Other income

                            28,157

                            46,942

-40.02%

Other expenses

                         (14,056)

                         (10,130)

38.76%

Profits from operations

                         249,019

                         205,786

21.01%

finance costs

                            (7,054)

                            (2,712)

160.10%

Share of profit of an associate

                            17,393

                            40,485

-57.04%

Profit before taxation

                         259,358

                         243,559

6.49%

Taxation

                         (66,078)

                         (60,922)

8.46%

Profit after taxation

                         193,280

                         182,637

5.83%

Earnings per share – basic and diluted (Rupees)

                                3.39

                                3.69

-8.13%

 

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Posted on: 2018-10-24T13:52:00+05:00

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