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.
Comparison of Key Financials
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.
