Khairpur Sugar Mills overcomes losses via improved top-line earnings

MG News | December 27, 2018 at 11:02 AM GMT+05:00

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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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