PSMC continues its journey on a sinking boat

MG News | April 23, 2020 at 12:58 PM GMT+05:00

0:00

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	134,299.77 290.06M	0.39% 517.42
ALLSHR	84,018.16 764.12M	0.48% 402.35
KSE30	40,814.29 132.59M	0.33% 132.52
KMI30	192,589.16 116.24M	0.49% 948.28
KMIALLSHR	56,072.25 387.69M	0.32% 180.74
BKTi	36,971.75 19.46M	-0.05% -16.94
OGTi	28,240.28 6.19M	0.21% 58.78

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,140.00	119,450.00 115,635.00	4270.00 3.75%
BRENT CRUDE	70.63	70.71 68.55	1.99 2.90%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.10 1.14%
ROTTERDAM COAL MONTHLY	108.75	108.75 108.75	0.40 0.37%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.75	68.77 66.50	2.18 3.27%
SUGAR #11 WORLD	16.56	16.60 16.20	0.30 1.85%