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

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 30th 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.

Posted on: 2018-04-30T13:18:00+05:00