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

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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 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.

Posted on: 2018-03-16T15:40:00+05:00