Hinopak Motors reports an annual loss worth Rs 873 million

MG News | May 23, 2019 at 01:39 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

May 23, 2019 (MLN): Hinopak Motors Limited has announced its financial results for the year ended on March 31^st 2019, as per which the company reported a loss of Rs 873.3 million with LPS recorded at Rs 70.42 per share, against a profit of Rs 1.14 billion earned last year.

The loss is mainly attributable to decline in company’s topline earnings by 28% and decline in income from other operations by around 51%.

During the period, company witnessed decline in other expenses by 99% and tax payments by 32% but the rise in finance cost by 50.5% helped further in dragging Hinopak’s earnings in the negative territory.

Profit and Loss for the Year Ended March 31,2019 (Rupees '000)
	Mar-19	Mar-18	% Change
Revenue	19,130,839	26,615,071	-28.1%
Cost of Sales	(18,017,525)	(23,580,631)	-23.6%
Gross Profit	1,113,314	3,034,440	-63.3%
Distribution cost	(379,128)	(440,146)	-13.9%
Administrative expenses	(378,831)	(420,586)	-9.9%
Other income	147,640	300,789	-50.9%
Other expenses	(1,372)	(125,947)	-98.9%
Profit from operations	501,623	2,348,550	-78.6%
Finance (cost)/income	(1,021,797)	(679,002)	50.5%
Profit before taxation	(520,174)	1,669,548
Taxation	(353,123)	(520,173)	-32.1%
Profit after taxation	(873,297)	1,149,375
Earnings per share - basic and diluted (Rupees)	-70.42	92.69

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	175,802.79 267.06M	-1.30% -2320.78
ALLSHR	106,568.29 617.78M	-1.25% -1352.24
KSE30	52,497.68 83.82M	-1.25% -665.92
KMI30	247,323.37 106.69M	-1.37% -3422.76
KMIALLSHR	68,315.26 363.70M	-1.37% -952.13
BKTi	49,936.11 23.35M	-1.18% -594.28
OGTi	34,758.02 9.23M	-1.71% -605.59

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,700.00	64,700.00 63,980.00	430.00 0.67%
BRENT CRUDE	88.26	88.38 83.71	4.03 4.78%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.65 -0.61%
ROTTERDAM COAL MONTHLY	119.80	120.30 119.80	0.00 0.00%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	81.77	82.07 77.93	3.49 4.46%
SUGAR #11 WORLD	14.82	14.94 14.39	0.38 2.63%