Kohinoor Textile's profits plummet by 25% as cost of sales soar
MG News | October 25, 2018 at 11:32 AM GMT+05:00
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% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 134,299.77 290.06M |
0.39% 517.42 |
| ALLSHR | 84,018.16 764.12M |
0.48% 402.35 |
| KSE30 | 40,814.29 132.59M |
0.33% 132.52 |
| KMI30 | 192,589.16 116.24M |
0.49% 948.28 |
| KMIALLSHR | 56,072.25 387.69M |
0.32% 180.74 |
| BKTi | 36,971.75 19.46M |
-0.05% -16.94 |
| OGTi | 28,240.28 6.19M |
0.21% 58.78 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 118,140.00 | 119,450.00 115,635.00 |
4270.00 3.75% |
| BRENT CRUDE | 70.63 | 70.71 68.55 |
1.99 2.90% |
| RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
1.10 1.14% |
| ROTTERDAM COAL MONTHLY | 108.75 | 108.75 108.75 |
0.40 0.37% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
| CRUDE OIL - WTI | 68.75 | 68.77 66.50 |
2.18 3.27% |
| SUGAR #11 WORLD | 16.56 | 16.60 16.20 |
0.30 1.85% |
Chart of the Day
Latest News
Top 5 things to watch in this week
MTB Auction
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|