HINO suffers massive loss of Rs105.58m in 1QMY24
MG News | July 25, 2023 at 01:42 PM GMT+05:00
July 25, 2023 (MLN): HinoPak Motors Limited (PSX: HINO) unveiled its profitability, wherein the loss after tax clocked in at 105.58m (LPS: Rs4.26), compared to a profit of Rs51.7m (EPS: Rs2.08) in the same period last year (SPLY).
Going by the results, the company's top line marked a decline of 37.44% YoY to Rs1.87bn as compared to Rs2.98bn in SPLY.
The cost of sales fell by 34.88% YoY but was lower than proportionate to the sales decline, which worsened the gross profit by 63.47% YoY to Rs97.71m in 1QMY24.
During the review period, other income deflated by 70.72% YoY to stand at Rs23.97m in 1QMY24 as compared to Rs81.85m in SPLY.
On the expense side, the company observed a decrease in Distribution cost by 2.67% YoY to clock in at Rs94.36m, while the Administrative expenses rose by 12.82% YoY to stand at Rs111.36m respectively during the review period.
The company’s finance costs shrank by 99.87% YoY and stood at Rs0.07m as compared to Rs56.93m in 1QMY24, mainly due to higher interest rates.
On the tax front, the company paid a lower tax worth Rs23.63m against the Rs38.29m paid in the corresponding period of last year, depicting a decrease of 38.30% YoY.
| Unconsolidated (un-audited) Financial Results for Quarter ended 30 June, 2023 | |||
|---|---|---|---|
| June 23 | June 22 | % Change | |
| Sales | 1,866,117 | 2,983,027 | -37.44% |
| Cost of sales | (1,768,410) | (2,715,587) | -34.88% |
| Gross Profit | 97,707 | 267,440 | -63.47% |
| Distribution cost | (94,359) | (96,947) | -2.67% |
| Administrative expenses | (111,364) | (98,709) | 12.82% |
| Reversal / (charge) of impairment on trade receivables and deposits | 2,166 | (86) | - |
| Other Income | 23,968 | 81,846 | -70.72% |
| Other expenses | - | (6,631) | - |
| Finance cost | (74) | (56,925) | -99.87% |
| Profit before taxation | (81,957) | 89,988 | - |
| Taxation | (23,626) | (38,291) | -38.30% |
| Net profit for the period | (105,583) | 51,697 | - |
| Basic and diluted earnings/ (loss) per share | (4.26) | 2.08 | - |
Copyright Mettis Link News
Related News
_20260529073616622_a5048c_20260724102330512_417f90.webp?width=280&height=140&format=Webp)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 177,623.88 478.02M | -0.36% -638.45 |
| ALLSHR | 107,472.27 954.45M | -0.34% -365.17 |
| KSE30 | 53,131.56 115.62M | -0.41% -216.11 |
| KMI30 | 250,814.93 150.64M | -0.28% -695.43 |
| KMIALLSHR | 68,971.49 608.41M | -0.29% -202.37 |
| BKTi | 50,769.48 23.80M | -0.58% -295.25 |
| OGTi | 34,999.12 6.26M | -0.71% -249.30 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 62,975.00 | 64,810.00 62,865.00 | -1990.00 -3.06% |
| BRENT CRUDE | 86.14 | 88.06 84.70 | -2.22 -2.51% |
| RICHARDS BAY COAL MONTHLY | 105.75 | 0.00 0.00 | -1.55 -1.44% |
| ROTTERDAM COAL MONTHLY | 120.00 | 0.00 0.00 | 0.25 0.21% |
| USD RBD PALM OLEIN | 1,175.00 | 1,175.00 1,175.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 80.91 | 82.43 79.80 | -1.70 -2.06% |
| SUGAR #11 WORLD | 14.54 | 14.70 14.51 | -0.04 -0.27% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Business Confidence Survey
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|