PSMC continues its journey on a sinking boat
MG News | April 23, 2020 at 12:58 PM GMT+05:00
April 23, 2020 (MLN): Pak Suzuki Motor Company has once again incurred losses for the quarter ended March 30, 2020, amounting to nearly Rs. 941 million (LPS: Rs. 11), i.e. 4% lower than the losses of same period last year.
The topline income of the company fell by 48%, owing to the decline in demand witnessed during the period, which in turn was a result of higher prices and economic slowdown.
The finance costs of the company depicted a twofold growth, due to the rise in short-term borrowing requirements from rising inventory levels.
However, the company did receive some relief in the form of tax credit, which amounted to Rs. 384 million during the quarter.
| Profit and Loss Account - For the quarter ended March 31, 2020 (Rs'000) | ||||
| Mar-20 | Mar-19 | % Change | ||
| Turnover | 17,741,496 | 34,447,138 | -48% | |
| Cost of sales | (17,168,590) | (33,328,702) | -48% | |
| Gross Profit | 572,906 | 1,118,436 | -49% | |
| Distribution Cost | (320,673) | (742,967) | -57% | |
| Administrative expenses | (577,695) | (622,727) | -7% | |
| Reversal/(provision) of impairment losses | 3,250 | (3,819) | ||
| Finance cost | (1,055,492) | (326,805) | 223% | |
| Other operating income | 53,392 | 49,981 | 7% | |
| Loss from operations | (1,324,312) | (527,901) | 151% | |
| Share of loss of equity accounted investee | (1,200) | (739) | 62% | |
| Profit before taxation | (1,325,512) | (528,640) | 151% | |
| Taxation | 384,398 | (452,104) | ||
| Loss for the period | (941,114) | (980,744) | -4% | |
| Loss per share: basic and diluted | (11) | (12) | -4% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 177,692.92 292.03M | -0.44% -778.95 |
| ALLSHR | 107,527.40 755.35M | -0.21% -222.76 |
| KSE30 | 53,022.89 136.49M | -0.33% -177.32 |
| KMI30 | 254,789.27 135.36M | -0.08% -207.69 |
| KMIALLSHR | 69,937.14 438.67M | -0.02% -16.42 |
| BKTi | 47,966.64 21.05M | -1.22% -591.93 |
| OGTi | 36,833.67 15.21M | 0.60% 217.97 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 62,695.00 | 62,695.00 62,445.00 | 330.00 0.53% |
| BRENT CRUDE | 77.00 | 78.23 76.43 | -0.90 -1.16% |
| RICHARDS BAY COAL MONTHLY | 115.00 | 0.00 0.00 | 0.00 0.00% |
| ROTTERDAM COAL MONTHLY | 125.90 | 125.90 125.90 | -0.15 -0.12% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 73.09 | 73.18 73.05 | -0.12 -0.16% |
| SUGAR #11 WORLD | 13.93 | 14.03 13.75 | 0.09 0.65% |
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 |
|---|