Hascol incurs Rs3bn loss in a quarter

MG News | October 02, 2024 at 01:18 PM GMT+05:00
October 02, 2024 (MLN): Hascol Petroleum Limited (PSX: HASCOL) incurred a loss after tax of Rs3.05 billion [LPS: Rs3.05] during the quarter ending June 2024, compared to a loss of Rs3.24bn [LPS: Rs3.24] in the same period last year (SPLY).
Going by the results, the company's revenue shrank 34.0% to Rs36.99bn in the second quarter of its financial year 2024, as compared to Rs56.06bn in SPLY.
The cost of sales also fell 33.3%, but was less than proportionate to sales decline, worsening the gross profit by 56.1% to Rs735.46m in Q2 FY24.
The gross margins fell to 2.0% as compared to 3.0% in SPLY.
The company’s finance cost dipped by 3.3% and stood at Rs2.55bn as compared to Rs2.64bn in SPLY.
On the tax front, the company paid a lower tax worth Rs186.76m against the Rs225.78m paid in the corresponding period of last year, depicting a decrease of 17.3%.
This translates to an effective tax rate of 6.5% as compared to 7.5% in SPLY.
Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000) | |||
---|---|---|---|
Jun 24 | Jun 23 | % Change | |
Sales | 36,985,492 | 56,057,833 | -34.02% |
Cost of sales | (36,250,034) | (54,383,443) | -33.34% |
Gross Profit/ (loss) | 735,458 | 1,674,390 | -56.08% |
Administrative Expenses | (223,269) | (223,843) | -0.26% |
Selling And Distribution Expenses | (820,225) | (822,334) | -0.26% |
Other Gains / (Losses) | (71,609) | (346,616) | -79.34% |
Other Income | 67,485 | (19,294) | - |
Other Operating Expenses | - | (633,919) | - |
Finance Cost | (2,552,381) | (2,638,099) | -3.25% |
Profit/ (loss) before taxation | (2,864,541) | (3,009,715) | -4.82% |
Taxation | (186,760) | (225,781) | -17.28% |
Net profit/ (loss) for the period | (3,051,301) | (3,235,496) | -5.69% |
Basic earnings/ (loss) per share | (3.05) | (3.24) | - |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 150,975.48 442.00M | 0.67% 1004.36 |
ALLSHR | 92,750.10 1,078.15M | 0.32% 297.35 |
KSE30 | 45,968.76 167.03M | 0.69% 313.73 |
KMI30 | 216,413.28 173.49M | 0.58% 1258.11 |
KMIALLSHR | 61,990.25 510.08M | 0.16% 98.72 |
BKTi | 41,875.31 192.40M | 0.74% 308.16 |
OGTi | 30,482.67 13.96M | 0.16% 48.74 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 109,910.00 | 111,395.00 107,790.00 | 1135.00 1.04% |
BRENT CRUDE | 68.49 | 69.53 68.05 | 0.34 0.50% |
RICHARDS BAY COAL MONTHLY | 89.50 | 89.50 89.50 | -0.20 -0.22% |
ROTTERDAM COAL MONTHLY | 96.50 | 96.50 96.25 | 0.05 0.05% |
USD RBD PALM OLEIN | 1,106.50 | 1,106.50 1,106.50 | 0.00 0.00% |
CRUDE OIL - WTI | 64.98 | 66.03 63.66 | 0.97 1.52% |
SUGAR #11 WORLD | 16.20 | 16.52 16.15 | -0.17 -1.04% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|