PSO reports a 15% drop in Yearly profits

Financial Results for the Year Ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

Gross sales

               1,305,246,079

               1,096,543,891

19.03%

Sales tax, Discounts and IFEM

                (248,345,516)

                (218,397,105)

13.71%

Net Sales

               1,056,900,563

                  878,146,786

20.36%

Cost of products sold

            (1,017,264,455)

                (841,011,250)

20.96%

Gross Profit

                     39,636,108

                     37,135,536

6.73%

Other income

                       7,497,201

                     11,142,248

-32.71%

Operating cost

                  (15,263,097)

                  (13,616,041)

12.10%

Profit from operations

                     31,870,212

                     34,661,743

-8.05%

Finance costs

                     (5,123,344)

                     (5,923,256)

-13.50%

Share of profit of associates - net of tax

                           413,612

                           608,380

-32.01%

Profit before taxation

                     27,160,480

                     29,346,867

-7.45%

Taxation

                  (11,699,223)

                  (11,121,242)

5.20%

Profit after taxation

                     15,461,257

                     18,225,625

-15.17%

Earnings per share - basic and diluted (Rupees)

                               47.42

                               55.90

-15.17%