Packages Limited profits fall by 64.58 percent to Rs. 532.971 million

Packages Limited today released financial statements for the three months ending 31 March, 2018. The company reported net sales worth Rupees 5.157 billion whereas reporting a total of 532.971 million worth of profits for the period.

The company during the period reported a 5.62 percent increase in Administrative Expenses, 11.30 percent increase in Distribution and Marketing Costs, and a 44.84 percent increase in Other Operating Income.

The company’s bottom-line profits were bolstered by an additional investment income of Rupees 189.578 million rupees during the period, which declined by 87.45 percent from last year’s tally of Rupees 1.510 billion.

Packages Limited Management reported profit after taxation at Rupees 532.971 million falling by 64.58 percent during the period against same period last year’s profit of Rupees 1.504 billion.

The management reported earnings per share – diluted of Rupees 5.96 per share against last year’s Rupees 5.78 per share.

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Three Months Ended, 30 March, 2018

Key Financials

2018

2017

% Change

 

Amounts in PKR’ 000

Local Sales

6,090,116

5,302,821

14.85%

Exprot Sales

3,087

8,279

-62.71%

Gross Sales

6,093,203

5,311,100

14.73%

Less: Sales Tax

935,850

815,487

14.76%

Net Sales

5,157,353

4,495,613

14.72%

Cost of Sales

4,068,306

3,555,751

14.41%

Gross Profit

1,089,047

939,862

15.87%

Administrative Expenses

256,491

242,835

5.62%

Distribution and Marketing Costs

321,286

288,659

11.30%

Other Operating Expenses

55,502

149,249

-62.81%

Other Operating Income

69,144

47,738

44.84%

Profit from Operations

524,912

306,857

71.06%

Finance Costs

89,519

114,399

-21.75%

Investment Income

189,578

1,510,712

-87.45%

Profit before Taxation

624,971

1,703,170

-63.31%

Taxation

92,000

198,246

-53.59%

Profit after Taxation

532,971

1,504,924

-64.58%

EPS – Basic

5.96

16.84

-64.61%

EPS – Diluted

5.78

15.75

-63.30%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-25T15:51:00+05:00