April 22, 2019 (MLN): Ghandhara Industries Limited (GHNI) has announced its 9 month net profit at Rs.394.9 million (EPS: Rs.9.27) as of March 31, 2019, thus marking a 68.7% decline as compared to same period last year (Rs.1.3 billion, EPS: Rs.29.63).
GHNI’s net earnings during the quarter alone was Rs.11.7 million (EPS: Rs.0.28) as compared to Rs.354.2 million (EPS: Rs.8.31) recorded last year, which implies that that the cumulative result is a major reflection of last quarter’s performance.
The cumulative decline comes about as a result of 7% contraction in sales which stand at Rs.10.7 billion against Rs.11.6 billion recorded last year.
Combined with higher cost of sales, the gross profit (Rs.1.4 billion) diminished by 41.8%.
Moreover, the net operational income dropped while finance costs soared, so that a despite a tax reversal of Rs.22.4 million, the company ended up losing out on the whole.
Financial Results for the nine months ended March 31, 2019 ('000 Rupees)
