Power Cement reports tragic results for 1HFY20
MG News | February 28, 2020 at 11:03 AM GMT+05:00
February 28, 2020 (MLN): Power Cement Limited has suffered losses of Rs. 365.8 million (LPS: Rs. 0.34) for the half year ended December 31, 2019, as opposed to the earning of Rs. 9.7 million (EPS: Rs. 0.01) reported in same period of last year.
The Selling and Administrative costs of the company surged by 19.15% and 21.35% respectively, whereas impairment loss on trade debts slumped by 76.6%.
On the other hand, the company’s earnings got a boost from the rise in other income as well as presence of other operating income.
The increase in the finance cost by 1.95x, however, pushed the company further into losses.
| Profit and Loss Account for the six months ended December 31, 2019 ('000 Rupees) | |||
|---|---|---|---|
| Dec-19 | Dec-18 | % Change | |
| Sales - net | 1,252,942 | 2,018,137 | -37.92% |
| Cost of sales | (1,588,101) | (1,820,325) | -12.76% |
| Gross (loss) / profit | (335,159) | 197,812 | |
| Selling and distribution expenses | (68,380) | (57,392) | 19.15% |
| Administrative expenses | (89,232) | (73,533) | 21.35% |
| Impairment loss on trade debts | (7,537) | (32,200) | -76.59% |
| Other income | 36,930 | 320 | 11440.63% |
| Other operating income/expenses | 143,138 | (61,268) | |
| Operating loss | (320,240) | (26,261) | 1119.45% |
| Finance costs - net | (198,544) | (67,147) | 195.69% |
| Loss before taxation | (518,784) | (93,408) | 455.40% |
| Taxation | 152,968 | 103,126 | 48.33% |
| Profit after taxation | (365,816) | 9,718 | |
| Earnings per share - basic and diluted (Rupees) | (0.340) | 0.01 |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 157,953.47 555.47M | 1.14% 1775.65 |
| ALLSHR | 96,741.22 1,957.60M | 1.16% 1110.83 |
| KSE30 | 48,198.94 249.79M | 1.09% 520.47 |
| KMI30 | 232,694.17 290.89M | 1.31% 3011.94 |
| KMIALLSHR | 65,027.13 1,019.78M | 1.03% 660.37 |
| BKTi | 42,489.56 84.10M | 1.35% 566.75 |
| OGTi | 31,779.36 15.21M | 0.14% 43.57 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 117,475.00 | 118,295.00 116,115.00 | 1650.00 1.42% |
| BRENT CRUDE | 68.01 | 68.16 67.34 | 0.06 0.09% |
| RICHARDS BAY COAL MONTHLY | 84.00 | 0.00 0.00 | -0.40 -0.47% |
| ROTTERDAM COAL MONTHLY | 94.50 | 94.50 94.50 | 0.95 1.02% |
| USD RBD PALM OLEIN | 1,106.50 | 1,106.50 1,106.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 63.79 | 63.91 63.11 | 0.09 0.14% |
| SUGAR #11 WORLD | 16.14 | 16.27 16.13 | -0.13 -0.80% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Large Scale Manufacturing (LSM)
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|