Pakistan International Container Terminal profits fall by 28.91 percent to Rs. 561.462 million
MG News | April 26, 2018 at 10:35 AM GMT+05:00
Pakistan International Container Terminal (PICT) today announced financial results for the three months period ending 31 March, 2018 reporting Sales at Rs. 2.189 billion; a decrease of 14.30 percent. Furthermore, the company’s Gross Profit fell to Rs. 1.001 from Rs. 1.264 billion last year during the outgoing three months.
On the expenses front, PICT reported a 10.23 percent increase in Administrative Expenses, 38.36 percent decrease in Administrative Expenses, whereas, finance costs incurred by the company went down by 95.80 percent during the period.
Pakistan International Container Terminal reported profit after taxation at Rs. 561.462 million against Rs. 788.757 million during the same period last year translating into an EPS of Rs. 5.14 vs. an EPS of Rs. 7.23 during the three months ending March, 2017.
| Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30th 2018 | |||
|---|---|---|---|
| Key Financials | March, 2018 | March, 2017 | % Change |
| Amounts in PKR’ 000 | |||
| Revenue | 2,189,995 | 2,555,311 | -14.30% |
| Cost of Services | 1,188,364 | 1,291,194 | -7.96% |
| Gross Profit | 1,001,631 | 1,264,117 | -20.76% |
| Administrative Expenses | 109,655 | 99,481 | 10.23% |
| Other Income/Expenses | 6,872 | 11,149 | -38.36% |
| Finance Cost | 205 | 4,880 | -95.80% |
| Profit before Taxation | 898,643 | 1,148,607 | -21.76% |
| Taxation | 337,181 | 359,850 | -6.30% |
| Profit after Taxation | 561,462 | 788,757 | -28.82% |
| EPS - Basic and diluted | 5.14 | 7.23 | -28.91% |
Company release on Earnings Report can be accessed here.
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