POWER incurs loss of Rs469.8m in 6MFY24

MG News | February 27, 2024 at 03:47 PM GMT+05:00
February 27, 2024 (MLN): The bottom line of Power Cement Limited (PSX: POWER) turned red in 6MFY24 as the company incurred a loss of Rs469.8 million [LPS: Rs0.64], compared to the profits of Rs420.3m [EPS: Rs0.23] in the same period last year.
Going by the results, the company's top line soared by 33.25% YoY to Rs16.84bn as compared to Rs12.64bn in 6MFY24.
The cost of sales also went up by 30.33% YoY but was less than proportionate to sales increase, which improved the gross profit by 43.76YoY to Rs3.95bn during the review period.
On the expense side, the company observed a rise in distribution expenses 2.5x YoY and administrative expenses by 26% YoY to clock in at Rs1.49bn and Rs218.68m respectively.
POWER's fixed income section observed a notable rise to clock in at Rs11.73m in 6MFY24 compared to Rs4.9m in the same period last year.
The company’s finance costs rose by 42% YoY and stood at Rs2.53bn as compared to Rs1.79bn in 6MFY23, mainly due to higher interest rates.
On the tax front, the company paid a lower tax worth Rs132.65m against the Rs613.12m paid in the corresponding period of last year, depicting a decline of 78.326% YoY.
Profit and Loss Account for the half year ended December 31, 2023 ('000 Rupees) |
|||
---|---|---|---|
|
Dec-23 |
Dec-22 |
% Change |
Sales - net |
16,847,334 |
12,642,946 |
33.25% |
Cost of sales |
(12,891,645) |
(9,891,409) |
30.33% |
Gross (loss) / profit |
3,955,689 |
2,751,537 |
43.76% |
Selling and distribution expenses |
(1,493,975) |
(605,093) |
146.90% |
Administrative expenses |
(218,687) |
(173,796) |
25.83% |
Other operating expenses |
(309,701) |
(374,713) |
-17.35% |
Operating Profit/loss |
1,933,326 |
1,597,935 |
20.99 |
Finance Income |
11,737 |
4,901 |
139.48% |
Finance cost |
(2,547,530) |
(1,795,666) |
41.87% |
Finance costs - net |
(2,535,793) |
(1,790,765) |
41.60% |
Loss before taxation |
(602,467) |
(192,830) |
212.43% |
Taxation |
132,650 |
613,124 |
-78.36% |
Loss/Profit after taxation |
(469,817) |
420,294 |
- |
Loss Earning per share - basic and diluted (Rupees) |
-0.64 |
0.23 |
- |
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
BKTi | 37,831.34 13.04M | 1.62% 603.62 |
OGTi | 27,440.63 3.93M | -0.09% -23.70 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,280.00 | 119,740.00 116,460.00 | -1015.00 -0.86% |
BRENT CRUDE | 73.36 | 73.63 71.75 | 0.85 1.17% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 70.24 | 70.51 68.45 | 1.03 1.49% |
SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|