Gharibwal Cement reports profit fall by 41.2 percent to Rs. 1 billion

Gharibwal Cement Limited (GWLC) today announced financial results for the nine months period ending 31 March, 2018 reporting Net Sales earned worth Rs. 8.512 billion. Furthermore, the company’s Gross Profit for the year fell by 28.57 percent reaching at Rs. 2.061 billion during the outgoing nine months.

On the expenses front, GWLC reported 13.77 percent increase in General & Administration Expenses, 14.34 percent decrease in Selling & Distribution Expenses with a 18.15 percent dip in Other Expenses, whereas, other Gharibwal’s other income also decreased by 33.09 percent during the period.

Gharibwal Cement Limited reported profit after taxation at Rs. 1 billion down from 1.701 billion last year translating into an EPS of Rs. 2.50 vs. an EPS of Rs. 4.25 during the nine months ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018

Key Financials

March, 2018

March, 2017

% Change

 

Amounts in PKR’ 000

Net Sales

8,512,585

8,370,193

1.70%

Cost of Sales

6,451,276

5,484,280

17.63%

Gross Profit

2,061,309

2,885,913

-28.57%

General and Administrative Expenses

276,492

243,030

13.77%

Selling and Distribution Expenses

17,574

20,517

-14.34%

Other Expenses

101,733

124,294

-18.15%

Other Income

19,889

29,725

-33.09%

Finance Cost

298,729

201,270

48.42%

Profit before Taxation

1,386,670

2,326,527

-40.40%

Taxation

386,433

625,492

-38.22%

Profit after Taxation

1,000,237

1,701,035

-41.20%

EPS – Basic and diluted

2.50

4.25

-41.18%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-24T10:37:00+05:00