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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