October 24, 2018 (MLN): Kohinoor Textile Mills reported a decline of 25.2% in its profits for the quarter ended 30th September 2018 due to augmentation in cost of sales of about 9.8% (Rs.714 million) as compared to the corresponding period last year.
According to the financial results announced by the company, administrative cost increased by 15.7%, distribution cost increased by 33.5% and finance cost surged by 99.6%, which contributed to further decline in company’s profitability.
Although, the company reported a decline in other expenses of about 21% and taxes of about 54% but its impact failed to lift the profits of the company upward.
The Earnings per share of the company exhibited a decline of around 18.9% from Rs 3.12 per share to Rs 2.53 per share.
|
Consolidated Financial Results for the Quarter Ended September 30th 2018 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Sep-18 |
Sep-17 |
% Change |
|
Revenue |
10,562,235 |
10,111,971 |
4.5% |
|
Cost of sales |
(8,027,859) |
(7,313,668) |
9.8% |
|
Gross profit |
2,534,376 |
2,798,303 |
-9.4% |
|
Distribution cost |
(505,985) |
(379,147) |
33.5% |
|
Administrative expenses |
(344,423) |
(297,683) |
15.7% |
|
Other expenses |
(110,885) |
(140,546) |
-21.1% |
|
|
(961,293) |
(817,376) |
17.6% |
|
|
1,573,083 |
1,980,927 |
-20.6% |
|
Other income |
142,929 |
166,118 |
-14.0% |
|
Profit from operations |
1,716,012 |
2,147,045 |
-20.1% |
|
Finance cost |
(417,940) |
(209,347) |
99.6% |
|
Profit before taxation |
1,298,072 |
1,937,698 |
-33.0% |
|
Taxation |
(241,322) |
(525,064) |
-54.0% |
|
Profit after taxation |
1,056,750 |
1,412,634 |
-25.2% |
|
Earnings per share – Basic and Diluted (Rupees) |
2.53 |
3.12 |
-18.9% |
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