Pakgen’s cost overrun dominates impact of higher income, profits decline ultimately

MG News | October 24, 2018 at 04:28 PM GMT+05:00

0:00

October 23, 2018 (MLN): Pakgen Power Limited (PKGP)’s increased inflow of non-core income successfully pulled the company out of a deteriorating performance, but the attainment could not last long as boosted finance cost turned growing operating profits into declining total profits.

The company’s financial earnings for the nine month period ended September 30, 2018, show that although Pakgen earned lower revenue and gross profits over corresponding period of last year, the company’s non-core income grew by Rs.35 million, thereby letting the operating profits rise by 1%.

Unfortunately, the company’s finance costs took a major leap of Rs.94 million, nullifying the momentary effect and steering the company’s bottom-line gains in a downward direction, as they fell by 7.9%,

Pakgen’s basic and diluted earnings per share have been recorded at Rs.2.48 per share, for the period.

Profit and Loss account for the nine month period ended September 30th 2018 (Rupees in '000)
	Sep-18	Sep-17	% Change
REVENUE	13,094,387	15,953,413	-17.92%
COST OF SALES	(11,435,911)	(14,284,977)	-19.94%
GROSS PROFIT	1,658,476	1,668,436	-0.60%
ADMINISTRATIVE EXPENSES	(175,620)	(155,966)	12.60%
OTHER EXPENSES	(2,138)	(12,708)	-83.18%
OTHER INCOME	41,554	6,469	542.36%
PROFIT FROM OPERATIONS	1,522,272	1,506,231	1.06%
FINANCE COST	(598,433)	(503,597)	18.83%
PROFIT BEFORE TAXATION	923,839	1,002,634	-7.86%
TAXATION	-	-
PROFIT AFTER TAXATION	923,839	1,002,634	-7.86%
EARNINGS PER SHARE - BASIC AND DILUTED (RUPEES)	2.48	2.69	-7.81%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	165,634.85 358.20M	3.14% 5043.51
ALLSHR	98,685.95 821.24M	2.83% 2713.21
KSE30	49,987.10 219.75M	3.14% 1522.98
KMI30	239,687.25 160.14M	3.17% 7355.26
KMIALLSHR	64,603.89 370.14M	2.96% 1857.73
BKTi	45,444.60 99.83M	2.84% 1252.93
OGTi	33,963.91 7.72M	1.91% 636.78

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	74,345.00	74,500.00 74,300.00	-55.00 -0.07%
BRENT CRUDE	95.34	99.45 94.42	-4.02 -4.05%
RICHARDS BAY COAL MONTHLY	105.00	0.00 0.00	0.40 0.38%
ROTTERDAM COAL MONTHLY	105.90	105.90 105.90	0.40 0.38%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	91.44	92.38 91.20	0.16 0.18%
SUGAR #11 WORLD	13.93	13.95 13.56	0.25 1.83%