Hascol Petroleum Ltd. profits rises 15.27 percent to Rs. 1.401 billion

By MG News | April 03, 2018 at 02:54 PM GMT+05:00

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Hascol Petroleum Limited today announced financial results for the period ending December 31^st, 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%.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30^th 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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