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JSGCL reports a drop of 83% in half yearly profits

In a Board of Directors meeting conducted on August 13th 2018, JS Global Capital Limited reviewed their financial earnings for the half year period ended June 30th 2018.

According to the financial earnings report issued to PSX, as compared to the half year ended June 30th 2017, the company's Operating revenue dropped by 18%.

Moreover, Capital gain on sale of investment dropped a great deal by 64%.

Where on one hand Dividend income increased by 36%, Margin finance income plunged by 47.5%.

Alternatively, JSGCL managed to reduce Finance cost by 89%, but since provision for taxes increased by 21%, overall half yearly profits decreased by 83.75%.

Furthermore, Earnings per share have dropped from Rs.3.07 per share to Rs.0.5 per share.

Financial Results for the Half Year ended June 30th 2018 (Rupees)

 

Jun-18

Jun-17

% change

Operating revenue

                  282,126,625

                  344,232,294

-18.04%

Capital gain on sale of investment

                     23,047,584

                     65,096,321

-64.59%

Dividend income

                     31,344,399

                     23,040,193

36.04%

Margin finance income

                     28,260,917

                     53,818,957

-47.49%

Unrealized loss on re-measurement of investments at fair value through profit or loss – net

                       9,217,577

                     (9,950,643)

 

Administrative and operating expenses

                (335,430,540)

                (329,939,761)

1.66%

Other operating income-net

                     52,002,940

                     54,420,938

-4.44%

Provision for Workers' Welfare fund

                     (1,759,211)

                     (3,578,555)

-50.84%

Finance cost

                     (2,608,952)

                  (25,026,121)

-89.58%

Profit before taxation

                     86,201,339

                  172,113,623

-49.92%

Taxation

                  (67,245,096)

                  (55,460,746)

21.25%

Profit after taxation

                     18,956,243

                  116,652,877

-83.75%

Earnings per share – basic and diluted

                                  0.50

                                  3.07

-83.71%

 

Posted on: 2018-08-15T10:30:00+05:00

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