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Hascol Petroleum profits rise by 95.97 percent to Rs. 729.650 million

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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. 

Comparison of Key Financials

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.

Posted on: 2018-04-27T12:49:00+05:00