Pak Elektron observes 55% drop in half yearly profits

Financial Results for the Half year Ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

REVENUE

                     22,504,230

                     25,835,287

-12.89%

SALES TAX AND DISCOUNTS

                     (5,804,431)

                     (6,472,937)

-10.33%

REVENUE - NET

                     16,699,799

                     19,362,350

-13.75%

COST OF SALES

                  (12,453,434)

                  (13,451,898)

-7.42%

GROSS PROFIT

                       4,246,365

                       5,910,452

-28.15%

DISTRIBUTION COST

                     (1,144,369)

                     (1,264,317)

-9.49%

ADMINISTRATIVE EXPENSES

                        (627,977)

                        (546,044)

15.00%

OTHER OPERATING EXPENSES

                           (55,699)

                        (141,121)

-60.53%

OTHER OPERATING INCOME

                               9,057

                             14,852

-39.02%

OPERATING PROFIT

                       2,427,377

                       3,973,822

-38.92%

FINANCE COST

                     (1,031,374)

                        (724,455)

42.37%

SHARE OF PROFIT/(LOSS) OF ASSOCIATE

                             (1,741)

                                   462

PROFIT BEFORE TAXATION

                       1,394,262

                       3,249,829

-57.10%

PROVISION FOR TAXATION

                        (178,952)

                        (519,003)

-65.52%

PROFIT AFTER TAXATION

                       1,215,310

                       2,730,826

-55.50%

EARNINGS PER SHARE

                                  2.40

                                  5.44

-55.88%