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.
