Pak Elektron Ltd. profits fall 9.86% to Rupees 3.308 billion

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MG News | March 16, 2018 at 03:40 PM GMT+05:00

Pak Elektron Limited today reported financial statements for the year ending December, 2017. The company reported a 15.52 percent increase in net revenue increasing gross profits by 17.97 percent.

PAEL’s Total revenue during the outgoing year clocked in at 42.346 billion rupees, with a total sales tax and discount of 11.346 billion. Furthermore, the company during the year improved gross margins by 18 percent which clocked in at 21.883 billion.

Company’s Other Income took a slide downward by more than 52 percent during the period under review, however, distribution costs went up by 64.84 percent

Profit after taxation for the period declined by more than 9.86 percent during the year, with total profit clocking in at 3.308 billion resulting in the earnings per share of 6.56 rupees per share.

In addition to that, the company also declared a final cash dividend for the year ended December 31st, 2017at Rs. 01.20 per share i.e. 12 percent. This is in addition to interim dividend already paid at the Rs. 1.50 per share i.e. 15.00 percent.

Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Year Ended, December 30th 2017

Key Financials

2017

2016

% Change

 

Amounts in PKR ‘000

Revenue

42,346,753

34,123,972

24.10%

Sales Tax and Discount

11,346,711

7,289,655

55.65%

Revenue - Net

31,000,042

26,834,317

15.52%

Cost of Sales

21,883,842

18,550,387

17.97%

Gross Profit

9,116,200

8,283,930

10.05%

Other Income

17,793

37,311

-52.31%

Distribution Cost

2,683,532

1,627,796

64.86%

Administrative and General Expenses

1,118,844

884,095

26.55%

Other Expenses

176,194

193,714

-9.04%

Operating Profit

5,155,423

5,615,636

-8.20%

Finance Costs

1,546,604

1,496,503

3.35%

Share of (Loss)/Profit of associate

5,354

309

 

Profit before Taxation

3,603,465

4,119,442

-12.53%

Taxation

295,211

449,502

-34.32%

Other Comprehensive Income

-

-

 

Total Comprehensive Income

3,308,254

3,669,940

-9.86%

EPS - Basic and diluted

6.56

7.51

-12.65%

Company release on Earnings Report can be accessed here.

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