Lalpir Power's half yearly profits reduce by 4.4%
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MG News | August 20, 2018 at 01:33 PM GMT+05:00
Lalpir Power Limited reported 4.4% reduction in semiannual profits, as profits reduced from Rs.627.2 million to Rs.599.4 million.
The financial earnings for the half year ended on June 30th 2018 were reviewed during the company’s Board of Directors meeting held on August 20, 2018.
As compared to the half year ended on June 30th 2017, the company’s Revenue reduced by 16% while the cost of sales reduced by a larger margin of 18%, thus the Gross profits grew by 1.5%.
Lalpir also bore higher administrative expenses and finance cost, thus leading to a drop in overall profits.
Furthermore, Lalpir’s Earnings per share (basic and diluted) were reported at Rs.1.58 per share, down from Rs.1.65 per share.
| Financial Results for the half year ended June 30th 2018 ('000 Rupees) | |||
|
| Jun-18 | Jun-17 | % Change |
| Revenue | 8,795,558 | 10,470,415 | -16.00% |
| Cost of Sales | (7,717,091) | (9,408,347) | -17.98% |
| Gross profit | 1,078,467 | 1,062,068 | 1.54% |
| Administrative expenses | (112,576) | (84,933) | 32.55% |
| Other expenses | (1,952) | (8,135) | -76.00% |
| Other income | 31,885 | 28,963 | 10.09% |
| Profit from operations | 995,824 | 997,963 | -0.21% |
| Finance cost | (396,393) | (370,757) | 6.91% |
| Profit before taxation | 599,431 | 627,206 | -4.43% |
| Taxation | - | - |
|
| Profit after taxation | 599,431 | 627,206 | -4.43% |
| Earnings per share - basic and diluted (Rupees) | 1.58 | 1.65 | -4.24% |
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