PICT observes 23.72% drop in half yearly profits

Profit and Loss Account for the Half Year Ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

Revenue - net

                       4,223,319

                       4,899,879

-13.81%

Cost of services

                     (2,323,896)

                     (2,497,972)

-6.97%

Gross profit

                       1,899,423

                       2,401,907

-20.92%

Administrative expenses

                        (227,490)

                        (194,454)

16.99%

Other income

                             (3,287)

                           (48,039)

-93.16%

Finance cost

                                 (410)

                             (8,236)

-95.02%

Other expenses

                             17,312

                             32,648

-46.97%

Profit before taxation

                       1,685,548

                       2,183,826

-22.82%

Taxation

                        (612,691)

                        (777,269)

-21.17%

Profit after taxation

                       1,072,857

                       1,406,557

-23.72%

Earnings per ordinary share - basic and diluted (Rupees)

                                  9.83

                               12.89

-23.74%