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

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%

Copyright Mettis Link News

Posted on: 2018-12-28T17:12:00+05:00

25045