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Pakistan Tobacco observes 11% rise in bottom line earning

July 23, 2019 (MLN): Pakistan Tobacco Company (PAKT) has observed a Rs.708 million increase in its half yearly net income which translates into a rise of 11% year-on-year and a net profit of around Rs.7 billion (EPS: Rs.27.61 per share).

The improvement in profit came about as a result of enhanced turnover (Rs.80.3 billion) and higher net finance income (Rs.538.6 million).

PAKT’s operating profits stood at Rs.9.6 billion and had improved by merely 2%, YoY.

  Profit and Loss Account for the half year ended June 30, 2019 (Rs'000)

 
 

 

Jun-19

Jun-18

% Change

 Gross turnover

                                        80,270,183

              63,778,352

25.86%

 Excise duties

                                      (40,164,422)

           (27,756,811)

44.70%

 Sales tax

                                      (12,108,195)

              (9,752,135)

24.16%

 Net turnover

                                        27,997,566

              26,269,406

6.58%

 Cost of Sales

                                      (13,458,414)

           (13,053,773)

3.10%

 Gross Profit

                                        14,539,152

              13,215,633

10.01%

 Selling and distribution expenses

                                        (2,131,538)

              (1,879,581)

13.40%

 Administrative Expenses

                                        (1,673,156)

              (1,229,667)

36.07%

 Other expenses

                                        (1,218,601)

                 (839,022)

45.24%

 Other income

                                                98,845

                    102,710

-3.76%

 Operating Profit

                                          9,614,702

                9,370,073

2.61%

 Finance Income

                                              617,020

                    330,027

86.96%

 Finance cost

                                              (78,387)

                    (14,994)

422.79%

 Net finance income

                                              538,633

                    315,033

70.98%

 Profit before income tax

                                        10,153,335

                9,685,106

4.83%

 Income tax expense

                                        (3,100,032)

              (3,340,595)

-7.20%

 Profit for the period

                                          7,053,303

                6,344,511

11.17%

 Earnings per share – basic and diluted (Rupees)

                                                   27.61

                        24.83

11.20%

Copyright Mettis Link News

Posted on: 2019-07-23T16:33:00+05:00

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