October 02, 2018 (MLN): Nishat Chunian Limited’s annual profits for the year ended June 30th 2018 have escalated by 55.14% on a year-on-year basis, owing to tremendous improvements in top-line earnings.
The company’s financial earnings for the year were reviewed earlier today during the Board of Directors meeting, where a comparison with the previous year’s earnings was drawn.
According to the company’s financial earnings report, the overall sales witnessed a hike of around Rs.7 billion, exhibiting a growth of almost 14%.
Since the company’s cost of sales grew by a relatively smaller margin, the gross profits increased by 20.21%.
The impact of increase in distribution and administrative expenses by 8.15% and 7.87% respectively, was largely offset by the fall in company’s other expenses by 40%.
However, taxation during the year increased by almost 40%. Nevertheless, the company’s annual profits increased from Rs.3.9 billion to Rs.5.4 billion, YoY.
Earnings per share went up by 55.14% as they rose from Rs.10.21 per share to Rs.15.84 per share (YoY).
The board also recommended a final cash dividend at Rs.4 per share, i.e. 40%.
|
Profit and Loss Account for the year ended June 30th 2018 (Rupees) |
|||
|---|---|---|---|
|
|
Jun-18 |
Jun-17 |
% Change |
|
REVENUE |
53,033,447,870 |
46,491,076,370 |
14.07% |
|
COST OF SALES |
-43,746,611,007 |
-38,765,841,557 |
12.85% |
|
GROSS PROFIT |
9,286,836,863 |
7,725,234,813 |
20.21% |
|
DISTRIBUTION COST |
-968,232,967 |
-895,297,451 |
8.15% |
|
ADMINISTRATIVE EXPENSES |
-483,225,873 |
-447,957,227 |
7.87% |
|
OTHER EXPENSES |
-170,755,814 |
-284,671,147 |
-40.02% |
|
OTHER INCOME |
888,130,215 |
255,442,049 |
247.68% |
|
FINANCE COST |
-2,712,197,173 |
-2,245,621,672 |
20.78% |
|
PROFIT BEFORE TAXATION |
5,840,555,251 |
4,107,129,365 |
42.21% |
|
TAXATION |
-369,490,920 |
-188,551,657 |
95.96% |
|
PROFIT AFTER TAXATION |
5,471,064,331 |
3,918,577,708 |
39.62% |
|
EARNINGS PER SHARE – BASIC AND DILUTED |
15.84 |
10.21 |
55.14% |
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