Khairpur Sugar Mills overcomes losses via improved top-line earnings

December 27, 2018 (MLN): Khairpur Sugar Mills Limited has stated bottom-line earnings of Rs. 22.3 million for the year ended September 30, 2018, diverging from losses made last year. This leap in earnings can be attributed to the substantial rise in the company’s core and non-core income.

The company witnessed a significant growth in its sales revenue by 44.46% as compared to last year. Even though the company’s cost of sales rose enough to pull down the gross profit by 78%, it was the increase in non-core income by Rs. 490 million which ultimately led to conversion of company’s losses into profits.

Profit and loss account for the year ended September 30th 2018 (Rupees'000)

 

Sep-18

Sep-17

% Change

Sales – net

4,237,317

2,933,180

44.46%

Cost of sales

-4,195,459

-2,739,274

53.16%

Gross profit

41,858

193,906

-78.41%

Administrative expenses

-185,162

-130,085

42.34%

Distribution cost

-77,714

-16,956

358.33%

Other incomes

502,596

11,932

4112.17%

Other operating expenses

-10,267

-300

3322.33%

Operating profit

271,311

58,497

363.80%

Finance cost

-179,351

-169,237

5.98%

(Loss) / Profit before taxation

91,960

-110,740

 

Taxation

-69,660

17,248

 

(Loss) / Profit after taxation

22300

-93492

 

(Loss) / Earning per share – basic and diluted

1.39

-5.84

 

 

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Posted on: 2018-12-27T11:02:00+05:00

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