PIOC witnesses a turnaround in financial performance owing to presence of tax credit

Dec-20

Dec-19

% change

 Sales gross

Cement - Local

 14,221,071

 6,858,768

107.34%

Cement - Export

 51,692

 47,146

9.64%

 14,272,763

 6,905,914

106.67%

Less:

Sales Tax

 (2,410,566)

 (1,173,269)

105.46%

Federal Excise duty

 (2,365,493)

 (1,514,602)

56.18%

Commission

 (108,370)

 (39,558)

173.95%

Discount and rebate

 (17,726)

 (30,758)

-42.37%

 (4,902,155)

 (2,758,187)

77.73%

Sales - net

           9,370,608

        4,147,727

125.92%

Cost of sales

         (8,231,424)

      (4,102,710)

100.63%

Gross profit

 1,139,184

 45,017

2430.56%

Distribution cost

              (67,911)

         (161,627)

-57.98%

Administrative expenses

 (59,892)

 (57,251)

4.61%

Other income

              (25,599)

 (204)

12448.53%

Other expenses

              198,304

           160,990

23.18%

 44,902

 (58,092)

Operating profit

 1,184,086

 (13,075)

Finance cost

 (838,684)

 (182,261)

360.16%

Profit before taxation

              345,402

         (195,336)

Taxation

 261,109

 83,668

212.08%

Profit after taxation

 606,511

 (111,668)

Earnings per share - basic and diluted (Rs.)

                            2.67

                      (0.49)