Jahangir Siddiqui & Co. Limited profits fall by 40.75 percent to Rs. 242.973 million

By MG News | April 30, 2018 at 01:18 PM GMT+05:00

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Jahangir Siddiqui & Co. Limited (JSCL) today announced financial results for the three months period ending 31 March, 2018 reporting Income at Rs. 268.735 million; down 25.43 percent from same period last year.

On the expenses front, JSCL reported 8.42 percent increase in Operating and Administrative Expenses, 104.55 percent increase in Finance Costs, whereas, Loss on re-measurement of Investments through profits or loss - held for trading – net incurred by the company clocked in at Rs. 3.736 million during the period.

Furthermore, JSCL also reported 25.65 percent increase in Other Income reaching Rs. 14.182 million during the three months.

Jahangir Siddiqui & Co. Limited reported profit after taxation at Rs. 242.973 million against Rs. 410.062 million during the same period last year translating into an EPS of Rs. 0.27 vs. an EPS of Rs. 0.45 during the three months ending March, 2017.

The Management at Atlas Honda approved a final cash dividend of Rs. 27/- per share i.e. 270 percent.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Income
Return on Investments	211,866	232,127	-8.73%
Gain on Sale of Investments - net	22,078	111,228	-80.15%
Income from Long Term Loans and Fund placements	24,345	5,738	324.28%
Other Income	14,182	11,287	25.65%
Loss on Re-measurement of Investments through profits or loss - held for trading - net	3,736	-
Expenditure
Operating and Administrative Expenses	60,258	55,579	8.42%
Finance Cost	78,549	38,400	104.55%
Provision	5,094	9,079	-43.89%
Reversal of impairment - net	124,769	187,544	-33.47%
Profit before Taxation	249,603	444,866	-43.89%
Taxation	6,630	34,804	-80.95%
Profit for the Period	242,973	410,062	-40.75%
EPS - Basic and diluted	0.27	0.45	-40.00%

Company release on Earnings Report can be accessed here.

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