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Nishat (Chunian) Ltd. reports losses worth 95 million in 1QFY17

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  • Nishat Chunian sales increased by 21.33%, amounting to a total of 8.36 billion Rupees during the quarter ended September, 30th 2017
  • Gross Profit decreased by 33.22% to a total of 531 million owing to an increase of 28.45% in Cost of Sales
  • Company’s other operating income witnessed a decline of 95% during the reported period
  • The company reported losses worth 95 million, against profit of Rs 564 million from same period last year
  • Earnings per share fell to -0.4 rupees in the last quarter vs 2.35 rupees in same period during 2016

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Three Months Ended, September 30th 2017

Key Financials

2017

2016

% Change

 

Amounts in PKR

Sales

8,368,040,197

6,896,728,008

21.33%

Cost of Sales

7,836,853,880

6,101,276,061

28.45%

Gross Profit

531,186,317

795,451,947

-33.22%

Distribution Cost

201,774,738

185,506,098

8.77%

Administrative Expenses

53,063,232

44,694,973

18.72%

Other Operating Expenses

5,284,489

35,243,724

-85.01%

Other operating Income

18,963,371

364,890,844

-94.80%

Profit from Operations

290,027,229

894,897,996

-67.59%

Finance Cost

307,723,849

226,756,033

35.71%

Profit before Taxation

(17,696,620)

668,141,963

 

Taxation

77,442,726

103,444,182

-25.14%

Profit after Taxation

(95,139,346)

564,697,781

 

EPS – Basic and diluted

(0.40)

2.35

 

Company release on Earnings Report can be accessed here.

Posted on: 2017-10-26T15:14:00+05:00