Pak Elektron profits falls by 51.50 percent to Rs. 536.123 million
MG News | April 25, 2018 at 01:48 PM GMT+05:00
Pak Elektron (PAEL) today announced financial results for the three months ending 31 March, 2018 reporting Net Sales at Rs. 6.311 billion; a decrease of 28.65 percent. Furthermore, the company’s Gross Profit fell to Rs. 1.832 billion from Rs. 2.729 billion last year during the outgoing three months.
On the expenses front, PAEL reported 23.23 percent decrease in Distribution Costs, 20.87 percent increase in Administration Expenses, whereas, other operating expenses incurred by the company clocked in at Rs. 37.703 million during the period.
Furthermore, PAEL also reported a 48.12 percent decrease in Other Operating Income reaching Rs. 7.307 million during the three months.
Pak Elektron Limited reported profit after taxation at Rs. 536.023 billion against Rs. 1.105 billion during the same period last year translating into an EPS of Rs. 1.06 vs. an EPS of Rs. 2.20 during the three months ending March, 2017.
| Unconsolidated Profit and Loss Account - For the Three Months Ended, 31 March, 2017 | |||
|---|---|---|---|
| Key Financials | 2018 | 2017 | % Change |
| Amounts in PKR ‘000 | |||
| Gross Sales | 8,377,316 | 11,813,703 | -29.09% |
| Sales Tax and Discount | 2,065,384 | 2,966,715 | -30.38% |
| Net Sales | 6,311,932 | 8,846,988 | -28.65% |
| Cost of Sales | 4,479,800 | 6,117,455 | -26.77% |
| Gross Profit | 1,832,132 | 2,729,533 | -32.88% |
| Other Operating Income | 7,307 | 14,085 | -48.12% |
| Distribution Cost | 471,664 | 614,407 | -23.23% |
| Administrative Cost | 335,711 | 277,756 | 20.87% |
| Other Operating Expenses | 37,703 | 69,915 | -46.07% |
| Finance Cost | 416,486 | 386,007 | 7.90% |
| Profit before Tax | 576,943 | 1,369,073 | -57.86% |
| Taxation | 40,920 | 290,867 | -85.93% |
| Profit after Tax | 536,023 | 1,105,206 | -51.50% |
| EPS - Basic and Diluted | 1.06 | 2.20 | -51.82% |
Company release on Earnings Report can be accessed here.
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