October 26, 2018 (MLN): The profits for Indus Motor Company Limited (INDU) have displayed a decline of 3.32% for the quarter ended 30th September 2018, Rs. 120 million down as compared to corresponding period last year. The variation was a result of a greater increase in cost of sales than sales revenue.
According to the notification issued to PSX, the company’s top-line earnings reported a decent increase of 12.08%, whereas the cost of sales increased by a greater margin of 16.12%, thus reducing the Gross profits by 7.04%.
The company’s Distribution and Administrative expenses exhibited growth of 2.61% and 3.78% respectively, while the company’s other operating expenses increased by a whopping 106.74%.
Even though the Finance cost and Income tax expenses decreased by 33.53% and 1.79%, the overall impact on the bottom-line earnings was negative nonetheless.
The Earnings per share for the quarter ended 30th September 2018 were 44.63, 3.34% down by previous year.
The company announced an Interim Cash Dividend at Rs. 32.5 per share i.e. 325%
|
Profit and loss account for the quarter ended September 30th 2018 (Rupees’000) |
|||
|---|---|---|---|
|
|
Sep-18 |
Sep-17 |
% Change |
|
Net sales |
34,991,152 |
31,219,736 |
12.08% |
|
Cost of sales |
29,931,500 |
25,776,884 |
16.12% |
|
Gross profit |
5,059,652 |
5,442,852 |
-7.04% |
|
Distribution expenses |
319,327 |
311,210 |
2.61% |
|
Administrative expenses |
289,586 |
279,045 |
3.78% |
|
Other Operating Expenses |
6,289 |
3,042 |
106.74% |
|
Workers' Profit Participation Fund and Workers' welfare fund |
376,154 |
385,120 |
-2.33% |
|
Other income |
1,053,270 |
856365 |
22.99% |
|
Finance cost |
101,485 |
152,671 |
-33.53% |
|
Profit before taxation |
5,020,081 |
5,168,129 |
-2.86% |
|
Taxation |
1,511,837 |
1,539,409 |
-1.79% |
|
Profit after taxation |
3,508,244 |
3,628,720 |
-3.32% |
|
Earnings per share- basic and diluted |
44.63 |
46.17 |
-3.34% |
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