Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

JS Company’s profits surge by 74% in CY19

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

March 12, 2020 (MLN): Jehangir Siddiqui Company Limited (JSCL) has reported a 74% change in net profits for the year ended December 31, 2019, up from Rs. 206.8 million last year to Rs. 359.8 million this year.

Even though there was a fall of 2% in total income, the decline in total expenses by 8% resulted in a positive change in profit before taxation.

The company gained further respite from the decline in income tax expense by 47%, the impact of which led to the profits increasing by 74%.

The Earnings per share of the company for the period were reported at Rs. 0.39, i.e. 69% higher than the figure reported in the previous year.

Profit and Loss Account for the year ended December 30, 2019 ('000 Rupees)

 

Dec-19

Dec-18

% Change

INCOME

     

Return on investments

958,703

1,017,452

-5.77%

Gain on sale of investments – net

64,881

56,147

15.56%

Income from long-term loans and fund placements

41,592

115,918

-64.12%

Other income

88,136

59,818

47.34%

Gain/(loss) on remeasurement of investments through profit or loss – held for trading – net

66,969

(3,688)

 

Total Income

1,220,281

1,245,647

-2.04%

EXPENDITURE

     

Operating and Administrative expenses

210,590

225,603

-6.65%

Finance cost

577,100

394,729

46.20%

Provision for Sindh Workers' Welfare Fund

9,837

9,005

9.24%

(Reversal of) / provision for impairment – net

(59,269)

175,072

 

Total Expenditure

738,258

804,409

-8.22%

PROFIT BEFORE TAXATION

482,023

441,238

9.24%

Taxation

122,213

234,373

-47.86%

PROFIT FOR THE PERIOD

359,810

206,865

73.93%

Earnings per share – basic and diluted (Rupees)

0.39

0.23

69.57%

 

Copyright Mettis Link News

Posted on: 2020-03-12T16:14:00+05:00

33378