Hascol Petroleum Ltd. profits rises 15.27 percent to Rs. 1.401 billion
MG News | April 03, 2018 at 02:54 PM GMT+05:00
Hascol Petroleum Limited today announced financial results for the period ending December 31st, 2017. The company reported net sales at Rs. 215.662 billion rising by more than 67.49 percent. The company also reported an increase of 76.4 percent in Cost of Products sold.
The company also registered an increase 52.71 percent in Distribution and Marketing expenses taking away 2.666 billion from bottom-line. Furthermore, the company also reported a 105.46 percent increase to clock in at Rs. 417.481 million.
Company’s profit after taxation clocked in at Rs. 1.401 billion, up by 15.27 percent from Rs. 1.215 billion last year.
The company reported earnings per share at Rupees10.70 for the period, meanwhile, declared a final cash dividend for the year ended at Rs. 3.50 per share I.e. 35%.
| Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Sales Net | 215,662,302 | 128,759,275 | 67.49% |
| Less: Sales Tax | 41,923,129 | 29,251,081 | 43.32% |
| Net Sales | 173,739,173 | 99,508,194 | 74.60% |
| Net Revenue | 174,239,633 | 99,715,781 | 74.74% |
| Cost of Products Sold | 166,850,657 | 94,585,669 | 76.40% |
| Gross Profit | 7,388,976 | 5,130,112 | 44.03% |
| Operating Expenses |
|
|
|
| Distribution and Marketing | 2,666,666 | 1,746,237 | 52.71% |
| Administrative | 611,439 | 508,983 | 20.13% |
| Other Income | 417,481 | 203,189 | 105.46% |
| Operating Profit | 4,528,352 | 3,078,081 | 47.12% |
| Finance Cost | 582,785 | 442,163 | 31.80% |
| Other Expenses | 491,095 | 673,772 | -27.11% |
| Profit before Taxation | 2,658,699 | 1,967,975 | 35.10% |
| Taxation | 1,257,451 | 752,349 | 67.14% |
| Profit for the year | 1,401,248 | 1,215,626 | 15.27% |
| EPS - Basic and diluted | 10.70 | 9.41 | 13.71% |
Company release on Earnings Report can be accessed here.
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