PIBTL marks outstanding improvement as losses drop by 90%
By MG News | October 30, 2018 at 11:03 AM GMT+05:00
October 30, 2018 (MLN): Pakistan International Bulk Terminal Limited (PIBTL) has successfully trimmed down its quarterly losses after taxation (LAT) by over 90%, as compared to the last year’s quarter, ended on September 30. The company has reported an overall loss of Rs.105 million, while its EPS is noted at Rs.0.065 per share (-90%).
PIBTL’s financial earnings report shows that while it earned considerably higher as net revenue over the year, and reported gross profits (Rs.478 million) instead of gross losses like last year’s quarter, the expenses still exceeded PIBTL’s inflows landing it in overall losses.
Even so, the company’s performance has improved remarkably.
| Profit and Loss Account for the quarter ended September 30, 2018 ('000 Rupees) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Revenue - net | 1,849,603 | 202,102 | 815.18% |
| Cost of services | (1,371,223) | (549,116) | 149.71% |
| Gross profit/(loss) | 478,380 | (347,014) |
|
| Administrative expenses | (94,260) | (65,296) | 44.36% |
| Other income | 6,612 | 23,562 | -71.94% |
| Finance cost | (299,267) | (297,078) | 0.74% |
| Other expenses - exchange loss | (139,684) | - |
|
| Loss before taxation | (48,219) | (685,826) | -92.97% |
| Taxation | (56,790) | (472,990) | -87.99% |
| Loss after taxation | (105,009) | (1,158,816) | -90.94% |
| Earnings per share - basic and diluted (Rupees) | 0.065 | 0.716 | -90.92% |
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