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Pak Suzuki Motor Company profits falls by 30.80 percent to Rs. 904.143 million

Pak Suzuki Motor Company (PSMC) today announced financial results for the three months ending 31 March, 2018 reporting Turnover at Rs. 31.510 billion; an increase of 31.89 percent. Furthermore, the company’s Gross Profit fell to Rs. 2.616 billion from Rs. 2.904 billion last year during the outgoing three months.

On the expenses front, PSMC reported 13.72 percent increase in Distribution Costs, 55.31 percent increase in Administration Expenses, whereas, finance costs incurred by the company clocked in at Rs. 73.344 million during the period.

Furthermore, PSMC also reported a 5.03 percent decrease in Other Operating Income reaching Rs. 176.112 million during the three months.

Pak Suzuki Motor Company reported profit after taxation at Rs. 904.143 million against Rs. 1.306 billion during the same period last year translating into an EPS of Rs. 10.99 vs. an EPS of Rs. 15.88 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

Turnover

31,510,787

23,890,840

31.89%

Cost of Sales

28,893,992

20,986,593

37.68%

Gross Profit

2,616,795

2,904,247

-9.90%

Distribution Costs

803,827

706,838

13.72%

Administrative Expenses

498,299

320,847

55.31%

Finance Costs

73,344

27,992

162.02%

Other Operating Income

176,112

185,433

-5.03%

Profit from Operations

1,319,669

1,893,657

-30.31%

Profit before Taxation

1,319,167

1,893,657

-30.34%

Taxation

415,024

587,034

-29.30%

Profit for the year

904,143

1,306,623

-30.80%

EPS – Basic

10.99

15.88

-30.79%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-25T14:57:00+05:00
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