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

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

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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 30^th 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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