Mehran Sugar Mills Ltd's profits exhibit terrific growth despite fall in sales revenue

By MG News | December 28, 2018 at 05:12 PM GMT+05:00

0:00

December 28, 2018 (MLN): The bottom-line earnings for Mehran Sugar Mills Limited have shown terrific growth, as the profits for the year ended September 2018 amounted to Rs. 407 million, almost double the amount from last year.

In spite of sales revenue falling by nearly 13%, the company recuperated its gains through a comparatively larger fall in cost of sales, combined with increase in share of profits from associates as well as fall in company’s taxation.

The company stated its earning per share for the year ended September 2018 at Rs. 12.7, almost 213% higher compared to last year’s figure.

Profit and loss account for the year ended September 30th 2018 (Rupees)
	Sep-18	Sep-17	% Change
Turnover	4,790,789,858	5,500,835,862	-12.91%
Cost of sales	-4,201,109,587	-5,233,068,269	-19.72%
Gross profit	589,680,271	267,767,593	120.22%
Distribution costs	-111,448,318	-83,037,172	34.21%
Administrative expenses	-281,959,541	-244,970,331	15.10%
Other expenses	-69,392,379	-9,357,006	641.61%
Other income	169,541,014	362,734,920	-53.26%
Operating profit	296,421,047	293,138,004	1.12%
Share of profit from associates - net	340,016,123	100,112,515	239.63%
Finance costs	-212,571,493	-196,674,799	8.08%
Profit before taxation	423,865,677	196,575,720	115.62%
Taxation	-16824716	-66871019	-74.84%
Net profit for the year	407,040,961	129,704,701	213.82%
Basic and diluted earnings per share	12.71	4.05	213.83%

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