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HomeEquityNishat Chunian profits exhibit tremendous growth of 140% for 1QFY19

Nishat Chunian profits exhibit tremendous growth of 140% for 1QFY19

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%

Copyright Mettis Link News

Posted on: 2018-10-29T13:47:00+05:00

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