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

MG News | April 27, 2018 at 10:34 AM GMT+05:00

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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 30^th 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.

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