October 29, 2018 (MLN): Nishat Chunian Limited (NCL) has disclosed tremendous improvement in its bottom-line earnings as they grew by 140.26% for the quarter ended 30th September 2018, as compared to corresponding period last year. The increment in profits was a result of enhanced core and non-core income of the company.
According to the notification issued to PSX, the top-line earnings of the company augmented by 11.17%, more than enough to cover the increase in Cost of sales by 3.5%, which subsequently led to the Gross Profits increasing by 59.67%.
Even though the operating expenses of the company showed considerable increases, the growth in other operating income by 555% i.e. Rs154 million greatly contributed in pulling up the profits of the company.
On a similar note, the finance cost and taxation cost also increased by 12.31% and 18.96% respectively, making insignificant impact on the ultimate profits of the company.
The Earnings per share for the company were stated at Rs5.68 for the quarter ended 30th September 2018.
|
Profit and loss account for the quarter ended September 30th 2018 |
|||
|---|---|---|---|
|
Sep-18 |
Sep-17 |
% Change |
|
|
SALES |
14,819,049,634 |
13,330,345,558 |
11.17% |
|
COST OF SALES |
-11,913,102,694 |
-11,510,403,563 |
3.50% |
|
GROSS PROFIT |
2,905,946,940 |
1,819,941,995 |
59.67% |
|
DISTRIBUTION COST |
-283,238,072 |
-246,485,692 |
14.91% |
|
ADMINISTRATIVE EXPENSES |
-120,946,981 |
-105,563,837 |
14.57% |
|
OTHER OPERATING EXPENSES |
-50,079,507 |
-10,326,127 |
384.98% |
|
OTHER OPERATING INCOME |
182,803,360 |
27,881,408 |
555.65% |
|
FINANCE COST |
-735,747,806 |
-655,105,677 |
12.31% |
|
PROFIT BEFORE TAXATION |
1,898,737,934 |
830,342,070 |
128.67% |
|
TAXATION |
-94,390,394 |
-79,347,117 |
18.96% |
|
PROFIT AFTER TAXATION |
1,804,347,540 |
750,994,953 |
140.26% |
|
EARNINGS PER SHARE – BASIC & DILUTED |
5.68 |
1.30 |
336.92% |
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