JS Global profits curtail by 82.95% owing to reduced inflow of earnings

MG News | October 23, 2018 at 10:35 AM GMT+05:00

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October 23, 2018 (MLN): The profits for JS Global Capital Limited have curtailed by a massive Rs.100 million (-82.95%) owing to considerable drop in the inflows of income combined with increased outflows in terms of expenses, for the nine months period ended September 30^th 2018.

According to the notification issued to PSX, the operating revenue for the company fell by Rs.67 million (-15.52%), along with Capital gains and Margin finance income that dropped by around Rs.35 million (-46.74%) and Rs.28 million (-38.8%) respectively.

Furthermore, the Administrative and operating expenses showed a slight growth of 3.74% whereas Non-core income displayed a slight decrease of 5.87%.

Even though the Finance costs decreased by a whopping Rs.40 million (-91.36%), along with taxation which decreased by Rs.13 million (-16.9%), these figures failed to pull up the ultimate profits of the company.

The Earing per share exhibited a considerable decline of 82.81% for the nine months ended.

Profit and loss account for the nine months ended September 30th 2018
	Sep-18	Sep-17	% Change
Operating revenue	377,632,457	445,597,022	-15.25%
Capital gain on sale of investments	40,773,499	76,550,153	-46.74%
Dividend income	44,212,299	39,324,493	12.43%
Margin finance income	44,164,662	72,160,168	-38.80%
Unrealized loss on remeasurement of investments at fair value through profit or loss - net	-15,426,134	-8,995,718	71.48%
Administrative and operating expenses	-493,657,531	-475,842,675	3.74%
Other operating income - net	96,203,848	102,205,602	-5.87%
Provision for Workers' Welfare Fund	-1,800,820	-3,589,901	-49.84%
Finance cost	-3,862,101	-44,688,334	-91.36%
Profit before taxation	88,240,179	202,720,810	-56.47%
Taxation	-67,525,333	-81,260,319	-16.90%
Profit after taxation	20,714,846	121,460,491	-82.95%
Earnings per share - basic and diluted	0.55	3.20	-82.81%

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