Pak Elektron profits falls by 51.50 percent to Rs. 536.123 million

By MG News | April 25, 2018 at 01:48 PM GMT+05:00

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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.

Comparison of Key Financials
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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