Ghandhara Nissan witnesses decent gains in quarterly profits

MG News | October 24, 2018 at 01:52 PM GMT+05:00

0:00

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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