Punjab Oil Mills Limited profits fall by 15.03 percent to Rs. 125.186 million

By MG News | April 26, 2018 at 05:51 PM GMT+05:00

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Punjab Oil Mills Limited (POML) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 3.571 billion; up 14.12 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 558.260 million from Rs. 498.164 million last year during the outgoing nine months.

On the expenses front, POML reported 87.45 percent decrease in Selling and Distribution Expenses, 9.71 percent increase in Administrative Expenses, whereas, Finance Costs incurred by the company went up by 223.76 percent during the period.

Furthermore, POML also reported a 25.26 percent decline in Other Income reaching Rs. 4.944 million during the nine months.

Punjab Oil Mills Limited reported profit after taxation at Rs. 125.186 million against Rs. 147.3311 million during the same period last year translating into an EPS of Rs. 23.22 vs. an EPS of Rs. 27.33 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Sales - Net	3,571,380,675	3,129,580,207	14.12%
Cost of Sales	3,013,119,906	2,631,416,157	14.51%
Gross Profit	558,260,769	498,164,050	12.06%
Operating Expenses
Selling and Distribution Costs	22,986,351	183,105,881	-87.45%
Administrative Expenses	104,390,141	95,153,486	9.71%
Operating Profit	224,001,277	219,904,683	1.86%
Finance Cost	6,655,800	2,055,783	223.76%
Other Operating Charges	16,153,668	16,309,920	-0.96%
Other Income	4,944,341	6,615,430	-25.26%
Profit before Taxation	206,136,150	208,154,410	-0.97%
Taxation	80,949,535	60,822,468	33.09%
Profit after Taxation	125,186,615	147,331,942	-15.03%
EPS - Basic and diluted	23.22	27.33	-15.04%

Company release on Earnings Report can be accessed here.

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