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
33066
