Hascol Petroleum (HASCOL) today announced financial results for the three months period ending 31 March, 2018 reporting Sales at Rs. 67.409 billion; up 57.49 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 2.734 billion from Rs. 1.428 billion last year during the outgoing three months.
On the expenses front, HASCOL reported 59.69 percent decrease in Distribution and Marketing Expenses, 23.86 percent decrease in Administrative Expenses, whereas, Finance Costs incurred by the company went up by 70.70 percent during the period.
Furthermore, HASCOL also reported a 71.62 percent increase in Other Revenue reaching Rs. 147.794 million during the three months.
Hascol Petroleum Limited reported profit after taxation at Rs. 729.650 million against Rs. 372.330 million during the same period last year translating into an EPS of Rs. 5.04 vs. an EPS of Rs. 2.89 during the three months ending March, 2017.
Unconsolidated Profit and Loss Account – For the Three Months Ended, March 30th 2018 |
|||
---|---|---|---|
Key Financials |
March, 2018 |
March, 2017 |
% Change |
Amounts in PKR’ 000 |
|||
Net Sales |
7,144,026 |
8,677,099 |
-17.67% |
Cost of Sales |
5,625,988 |
7,003,175 |
-19.67% |
Gross Profit |
1,518,038 |
1,673,924 |
-9.31% |
Distribution and Marketing Expenses |
876,840 |
984,142 |
-10.90% |
Administrative Expenses |
191,445 |
230,934 |
-17.10% |
Other Operating Expenses |
38,371 |
32,411 |
18.39% |
Other Income |
120,308 |
47,513 |
153.21% |
Operating Profit |
531,690 |
473,950 |
12.18% |
Finance Costs |
132,468 |
56,315 |
135.23% |
Profit before Taxation |
399,222 |
417,635 |
-4.41% |
Taxation |
97,900 |
86,816 |
12.77% |
Profit for the Period |
301,322 |
330,819 |
-8.92% |
Profit available for Appropriation |
967,200 |
924,038 |
4.67% |
EPS – Basic and Diluted |
0.39 |
0.43 |
-9.30% |
Company release on Earnings Report can be accessed here.