Hinopak discloses losses worth Rs 607.5 million

News Image

MG News | July 29, 2019 at 03:16 PM GMT+05:00

0:00

July 29, 2019 (MLN): Hinopak Motors Limited (HINO) has disclosed after-tax losses of Rs. 607.5 million for the quarter ended on June 30, 2019 in a notification issued to Pakistan Stock Exchange. The losses incurred can be attributed to a huge drop in sales and substantial increase in the company’s finance cost.  

During the quarter, HINO observed 50% decline in sales (Rs.3.3 billion) and finance cost increased 4.3x to Rs 405 million, which dragged company’s profitability in the negative territory.

Adding to the woes, administrative expenses surged by 3%, coupled with a substantial downswing (92%) in non-core income (Rs.6.1 million), this caused the company to bear a pre-tax loss worth Rs. 563.4 million.

The company reported its Loss per share at Rs. 48.99, for the aforementioned quarter.

 

Profit and Loss for the Quarter ended June 30, 2019 (Rupees '000)

 

Jun-19

Jun-18

% Change

Revenue

 3,307,425

 6,659,306

-50.3%

Cost of Sales

 (3,291,558)

 (6,165,755)

-46.6%

Gross Profit

 15,867

 493,551

-96.8%

Distribution cost

 (87,156)

 (98,461)

-11.5%

Administrative expenses

 (93,130)

 (90,523)

2.9%

Other income

 6,101

 73,084

-91.7%

Other expenses

 -

 (19,514)

-

Profit from operations

 (158,318)

 358,137

-144.2%

Finance (cost)/income

 (405,101)

 (93,347)

334.0%

Profit before taxation

 (563,419)

 264,790

 

Taxation

 (44,115)

 (145,621)

-69.7%

Profit after taxation

 (607,534)

 119,169

-609.8%

Earnings per share - basic and diluted (Rupees)

(48.99)

9.61

-609.8%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 120,570.00 123,615.00
118,675.00
2040.00
1.72%
BRENT CRUDE 69.08 71.53
69.05
-1.28
-1.82%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.83 69.65
66.80
-1.62
-2.37%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High


July 14, 2025 at 04:06 PM GMT+05:00

PKR falls 25 paisa per USD



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg