LOTCHEM sees a 61% drop in annual earnings

10:14
February 26, 2021
MG

February 26, 2021 (MLN): Lotte Chemical Pakistan (LOTCHEM) has earned Rs. 2.12 billion (EPS: 1.4) during the year ended December 31, 2020, i.e. nearly 61% lower as compared to the earnings of same period last year.

The company also announced a final cash dividend of Rs. 0.75 per share for the year i.e. 75%.

The drop in earnings stemmed from a 35.6% decline in revenue owing to a decline in the price of PTA. On the other hand, the cost of sales declined by 31% due to PKR depreciation and removal of GIDC which resulted in lower gas prices.

The non-core income rose by 15.7% on account of higher cash and short-term investments.

Finance cost of the company fell by nearly 75% owing to a 6.25% drop in interest rates.

Profit and Loss Account for the year ended December 31, 2020 ('000 Rupees)
	Dec-20	Dec-19	% Change
Revenue from contract with customers-net	38,964,851	60,539,754	-35.64%
Cost of Sales	(36,322,627)	(52,509,365)	-30.83%
Gross Profit	2,642,224	8,030,389	-67.10%
Distribution and Selling Expenses	(107,275)	(103,581)	3.57%
Administrative Expenses	(434,288)	(422,635)	2.76%
Other Expenses	(373,397)	(642,814)	-41.91%
Other Income	1,422,069	1,228,637	15.74%
Finance Cost	(150,248)	(567,074)	-73.50%
Profit/(loss) before Taxation	2,999,085	7,522,922	-60.13%
Taxation	(873,980)	(2,162,552)	-59.59%
Profit after Taxation	2,125,105	5,360,370	-60.36%
Earnings per share – Basic and Diluted (Rs.)	1.40	3.54	-60.45%

Copyright Mettis Link News

Posted on: 2021-02-26T15:14:00+05:00

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PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	278.20000	278.40000	278.40000	278.20000	01:03 PM
2	EUR	1.06690	1.06720	1.06720	1.06690	08:57 AM
3	GBP	1.23680	1.23700	1.23700	1.23680	08:57 AM
4	CHF	0.91026	0.91075	0.91074	0.91026	09:04 AM
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7	AUD	0.64140	0.64180	0.64180	0.64140	08:57 AM
8	INR	83.37020	83.37070	83.37070	83.37020	08:00 PM
9	SAR	3.75120	3.75140	3.75140	3.75120	05:00 PM
10	AED	3.67220	3.67320	3.67320	3.67220	01:57 AM
11	HKD	7.83140	7.83150	7.83150	7.83140	08:57 AM
12	CNH	7.23884	7.23892	7.23892	7.23884	08:00 PM
13	CNY	7.24030	7.24040	7.24040	7.24030	07:10 PM
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20	TRY	32.48060	32.49060	32.49060	32.48060	08:00 PM
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22	ZAR	18.77030	19.81930	19.81933	18.77031	08:57 AM
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25	ARS	870.10300	870.11100	870.11115	870.10271	09:03 AM
26	BDT	107.82100	111.19400	111.19441	107.82063	05:38 AM
27	BHD	0.37700	0.37710	0.37710	0.37700	08:32 PM
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31	LKR	298.08400	304.64400	304.64364	298.08350	05:38 AM
32	OMR	0.38498	0.38515	0.38515	0.38498	01:57 AM
33	QAR	3.64600	3.64900	3.64900	3.64600	01:59 AM
34	RUB	93.20000	94.60000	94.60000	93.20000	08:00 PM
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42	NGN	1,149.00000	1,153.00000	1,153.00000	1,149.00000	08:00 PM
43	KES	129.80600	132.61800	132.61797	129.80648	05:38 AM
44	AMD	365.11900	421.34900	421.34858	365.11879	05:38 AM
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46	XAU	2,390.01000	2,391.71000	2,391.71000	2,390.01000	07:06 AM
47	XAG	28.65580	28.68580	28.68580	28.65580	07:06 AM
48	XPT	931.58700	937.31300	937.31280	931.58720	02:00 AM
49	XPD	1,026.51000	1,034.34000	1,034.33590	1,026.50920	02:00 AM
2,120	VES	36.25120	36.34210	36.34210	36.25125	08:00 PM
2,212	UGX	3,759.90000	3,844.24000	3,844.24348	3,759.89879	05:38 AM
2,213	TZS	2,532.50000	2,626.21000	2,626.21245	2,532.49613	05:38 AM

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	70,968.98	70,909.904	70,186.93	619.785	0.882	214,724,945.0	13,651,927,649.760	19/04/2024 05:13 PM
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KSE30	23,393.38	23,376.569	23,058.97	282.759	1.224	116,554,680.0	11,831,374,214.290	19/04/2024 05:13 PM
KMI30	118,779.97	118,572.725	117,247.45	1,218.125	1.038	148,956,005.0	11,119,881,421.450	19/04/2024 05:13 PM
KMIALLSHR	33,051.27	33,022.390	32,695.54	298.524	0.912	317,804,569.0	19,951,289,708.390	19/04/2024 05:13 PM
BKTi	17,861.34	17,826.912	17,489.40	244.864	1.393	16,782,769.0	1,601,100,031.210	19/04/2024 05:13 PM
OGTi	16,766.60	16,652.098	16,435.08	192.159	1.167	13,610,174.0	1,842,349,761.040	19/04/2024 05:13 PM

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Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	64,150.0	65,640.0	59,635.0	490.00
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RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-6.15
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USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
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