October 27, 2022 (MLN): Lotte Chemical Pakistan Limited (LOTCHEM) continued its growth trajectory as the company has observed a 2.5x YoY upsurge in 9MCY22 to clock in at Rs8.11 billion [EPS: Rs5.35], compared to Rs3.23bn [EPS: Rs2.13] in 9MCY21.

Going by the financial statement sent to PSX, the net sales went up by 65% YoY to Rs79.52bn largely on the back of higher international PTA prices and production. As a result, the gross profit margins of the company expanded to 18.62% from 11% in 9MCY21.

On the expense side, distribution and administration costs are inclined by 33% YoY and 22% YoY, respectively. While other expenses surged by a whopping 2.3x YoY.

Among other line items, the other income has jumped by 63% YoY to stand at Rs1.43bn in the review period.

Moreover, the company bore a finance cost of Rs1.79bn due to exchange losses.

On the tax front, the company incurred an effective tax rate of 37.27% compared to 28.73% in 9MCY21.

Copyright Mettis Link News

Posted on: 2022-10-27T12:09:06+05:00

News Id :35637