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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