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 | 163,098.19 607.60M | -0.87% -1432.62 |
ALLSHR | 99,276.25 1,397.26M | -0.80% -801.63 |
KSE30 | 50,184.56 221.88M | -0.89% -450.56 |
KMI30 | 238,333.52 129.55M | -1.13% -2718.46 |
KMIALLSHR | 65,792.54 685.73M | -0.99% -655.65 |
BKTi | 45,653.52 111.72M | -1.00% -461.31 |
OGTi | 32,313.25 10.70M | -1.57% -516.41 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 114,520.00 | 0.00 0.00 | -2470.00 -2.11% |
BRENT CRUDE | 62.09 | 65.36 62.00 | -3.13 -4.80% |
RICHARDS BAY COAL MONTHLY | 81.00 | 81.00 81.00 | -1.60 -1.94% |
ROTTERDAM COAL MONTHLY | 90.50 | 0.00 0.00 | 0.40 0.44% |
USD RBD PALM OLEIN | 1,085.00 | 1,085.00 1,085.00 | 0.00 0.00% |
CRUDE OIL - WTI | 58.24 | 0.00 0.00 | -0.66 -1.12% |
SUGAR #11 WORLD | 16.10 | 16.35 15.97 | -0.16 -0.98% |
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 |
---|