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 |
|
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