Pakistan Tobacco records substantial rise in profits

 October 23, 2018 (MLN): Pakistan Tobacco Company (PAKT)’s bottom-line earnings for the nine month period ended September 30, 2018 have expanded by 37% or Rs.2.5 billion as compared to the corresponding period of prior year.

The company’s financial earnings for the period reveal that its net turnover soared by a decent margin of 30% while gross profits uplifted by 34% over the year.

Although, the company’s overall expenses grew by around Rs.1.1 billion while income tax expenses increased by Rs.1.7 billion, it still managed to pull up its total profits by a considerable amount.

The basic and diluted earnings per share have increased by Rs.9.94 per share, as they logged in at Rs.36.38 per share.

In addition to this, the board of directors of PAKT have recommended an interim cash dividend at Rs.10 per share (10%), in addition to the previously paid interim dividend at Rs.7 per share (70%).

Profit and Loss Account  For the nine month period ended September 30th 2018 (Rs'000)

 

Sep-18

Sep-17

% Change

 Gross turnover

                                        97,055,026

              79,989,946

21.33%

 Excise duties

                                      (42,933,069)

           (37,710,695)

13.85%

 Sales tax

                                      (14,815,401)

           (12,125,629)

22.18%

 Net turnover

                                        39,306,556

              30,153,622

30.35%

 Cost of Sales

                                      (19,651,793)

           (15,501,633)

26.77%

 Gross Profit

                                        19,654,763

              14,651,989

34.14%

 Selling and distribution expenses

                                        (2,885,819)

              (2,276,994)

26.74%

 Administrative Expenses

                                        (1,736,846)

              (1,516,146)

14.56%

 Other operating expenses

                                        (1,173,946)

                 (880,097)

33.39%

 Other operating income

                                              116,149

                    130,962

-11.31%

 Operating Profit

                                        13,974,301

              10,109,714

38.23%

 Finance Income

                                              479,076

                      88,010

444.34%

 Finance cost

                                              (22,917)

                    (50,397)

-54.53%

 Net finance income

                                              456,159

                      37,613

1112.77%

 Profit before income tax

                                        14,430,460

              10,147,327

42.21%

 Income tax expense

                                        (5,134,834)

              (3,392,294)

51.37%

 Profit for the period

                                          9,295,626

                6,755,033

37.61%

 Earnings per share – basic and diluted (Rupees)

                                                   36.38

                        26.44

37.59%

 

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Posted on: 2018-10-23T15:26:00+05:00

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