PSX's quarterly profits stagger majorly

MG News | October 24, 2018 at 03:14 PM GMT+05:00

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October 24, 2018 (MLN): Pakistan Stock Exchange (PSX) reported a decline of 65.9% in its profits for the quarter ended 30th September 2018 due to reduction in the topline earnings of about Rs.52 million as compared to the corresponding period last year.

According to the notification issued, the top-line earnings slipped by 18.79%, whereas the operating loss increased by a higher margin of 419.34%, causing before-tax profits to fall by 70.34%.

Even though the taxes fell by around 92.13%, its impact failed to pull the profits of the company upward.

The earnings per share of the company exhibited a decline of 20% from Rs.0.10 per share to Rs.0.08 per share.

Profit and Loss Account for the Quarter Ended September 30th 2018 ('000 Rupees)
	Sep-18	Sep-17	% Change
Revenue
Listing fee	91,460	115,594	-20.88%
Income from exchange operations	91,099	89,374	1.93%
Service charges	-	15,971	-100.00%
Management fee	-	-
Mark-up/interest income	26,795	39,331	-31.87%
Rental income from investment property	15,109	16,132	-6.34%
	224,463	276,402	-18.79%
Operating cost
Administrative expenses	(289,032)	(288,826)	0.07%
Financial and other charges	(21)	(13)	61.54%
	(289,053)	(288,839)	0.07%
Operating loss	(64,590)	(12,437)	419.34%
Other income	1,953	198	886.36%
Provision for impairment against transfer of sub-lease of properties	-	-
Share of profit from associates	91,101	108,202	-15.80%
Net profit before taxation	28,464	95,963	-70.34%
Taxation	(1,286)	(16,337)	-92.13%
Net profit after taxation	27,178	79,626	-65.87%
Basic and diluted earnings per share (Rupees)	0.08	0.10	-20.00%

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