Power Cement Limited profits fall by 10.86 percent to Rs. 288.574 million

Power Cement Limited (POWER) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 3.309 billion; down 0.53 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 618.024 million from Rs. 682.326 million last year during the outgoing nine months.

On the expenses front, POWER reported 15.23 percent increase in Distribution Costs, 60.05 percent increase in Administrative Expenses, whereas, Other Operating Expenses incurred by the company went up by 168.68 percent during the period.

Furthermore, POWER also reported a 31820 percent increase in Other Income reaching Rs. 111.402 million during the nine months.

Power Cement Limited reported profit after taxation at Rs. 288.574 billion against Rs. 323.745 million during the same period last year translating into an EPS of Rs. 0.26 vs. an EPS of Rs. 0.80 during the nine months ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018

Key Financials

March, 2018

March, 2017

% Change

 

Amounts in PKR’ 000

Sales – net

3,309,790

3,327,389

-0.53%

Cost of Sales

2,691,766

2,645,063

1.77%

Gross Profit

618,024

682,326

-9.42%

Distribution Cost

90,530

78,566

15.23%

Administrative Expenses

88,183

55,096

60.05%

Other Income

1,450

56,305

-97.42%

Other Operating Expense

43,739

16,279

168.68%

Operating Profit

397,022

621,248

-36.09%

Finance Income

111,402

349

31820.34%

Finance Cost

106,895

201,387

-46.92%

Finance (Cost)/Income – Net

4,507

201,038

-97.76%

Profit before Taxation

401,529

420,210

-4.45%

Taxation

112,955

96,465

17.09%

Profit after Taxation

288,574

323,745

-10.86%

EPS – Basic and diluted

0.26

0.80

-67.50%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-27T10:34:00+05:00