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PSX’s quarterly profits stagger majorly

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%

 

Copyright Mettis Link News

Posted on: 2018-10-24T15:14:00+05:00

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