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

MG News | April 25, 2018 at 03:51 PM GMT+05:00

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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.

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