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
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.
| 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.
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