PAEL's bottom-line gains slip by 50% due to reduced top-line earnings

News Image

MG News | October 30, 2018 at 03:17 PM GMT+05:00

0:00

October 30, 2018 (MLN): Pak Elektron Limited (PAEL)’s consolidated profits for the nine months ended September 30, 2018 have slipped significantly as they logged in at Rs.1.3 billion, (-55%) while EPS was recorded at Rs.2.61 per share.

The company’s topline earnings tumbled by over 8% while gross profits (Rs.5.8 billion) came down by 24% during the period, YoY.

Moreover, PAEL’s net expenses including finance cost grew, while non-core income dipped by 16%, resulting in a 58% decline in pretax profits (Rs.1.5 billion).

Consolidated Financial Results for the nine months ended September 30th 2018 ('000 Rupees)

 

Sep-18

Sep-17

% Change

GROSS SALES

                     30,911,655

                     33,876,335

-8.75%

SALES TAX AND DISCOUNTS

                     (7,190,611)

                     (7,816,686)

-8.01%

NET SALES

                     23,721,044

                     26,059,649

-8.97%

COST OF SALES

                  (17,887,068)

                  (18,335,528)

-2.45%

GROSS PROFIT

                       5,833,976

                       7,724,121

-24.47%

OTHER OPERATING INCOME

                             13,255

                             15,854

-16.39%

DISTRIBUTION COST

                     (1,739,743)

                     (1,928,963)

-9.81%

ADMINISTRATIVE EXPENSES

                        (932,813)

                        (846,227)

10.23%

OTHER OPERATING EXPENSES

                           (65,112)

                        (161,907)

-59.78%

FINANCE COST

                     (1,609,554)

                     (1,234,003)

30.43%

SHARE OF PROFIT/(LOSS) OF ASSOCIATE

                             (1,095)

                               1,406

 

PROFIT BEFORE TAXATION

                       1,498,914

                       3,570,281

-58.02%

PROVISION FOR TAXATION

                        (166,662)

                        (598,619)

-72.16%

PROFIT AFTER TAXATION

                       1,332,252

                       2,971,662

-55.17%

EARNINGS PER SHARE

                                  2.61

                                  5.91

-55.84%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,020.00 118,195.00
117,905.00
400.00
0.34%
BRENT CRUDE 73.47 73.63
71.75
0.96
1.32%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.28 70.33
70.18
0.28
0.40%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg