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

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.

Posted on: 2018-04-25T13:48:00+05:00