Roshan Packages Ltd sees an outstanding transition in net earnings during 9MFY20
By MG News | April 28, 2020 at 11:49 AM GMT+05:00
April 28, 2020 (MLN): Roshan Packages Limited has announced its financial results for the nine months ended March 31, 2020, as per which, the company has earned profits of Rs. 192.5 million (EPS: 1.36) as opposed to the losses of Rs. 66.6 million (LPS: 0.47) incurred in the same period of last year.
This remarkable transition in earnings was a result of improvement in gross profits by 60%.
The company also witnessed a substantial decline in its non-core expenses by almost Rs. 38 million, which helped in turning its operating losses into income.
Furthermore, the company received a tax credit of around Rs. 76.1 million, as opposed to the Rs. 52.4 million tax paid in the same period of last year, which further contributed in lifting the net earnings for the period.
| Financial Results for the nine months ended March 31, 2020 (Rupees) | |||
|---|---|---|---|
| Mar-20 | Mar-19 | % Change | |
| Revenue from contracts with customers | 4,580,544,999 | 4,901,890,910 | -6.56% |
| Sales Tax | (628,964,666) | (694,266,853) | -9.41% |
| Discounts and commissions | (9,270,471) | (8,018,483) | 15.61% |
| Net sales | 3,942,309,862 | 4,199,605,574 | -6.13% |
| Cost of revenue | (3,517,324,106) | (3,934,197,375) | -10.60% |
| Gross profit | 424,985,756 | 265,408,199 | 60.13% |
| Administrative expense | (95,042,665) | (88,465,772) | 7.43% |
| Seling and distribution expense | (122,684,305) | (124,274,840) | -1.28% |
| Other operating expense | (8,621,497) | (46,902,649) | -81.62% |
| Operating profit/(loss) | 198,637,289 | 5,764,938 | 3345.61% |
| Other income | 96,577,019 | 110,456,759 | -12.57% |
| Finance cost | (178,920,306) | (130,371,230) | 37.24% |
| Profit/(loss) before taxation | 116,294,002 | (14,149,533) | |
| Taxation | 76,178,240 | (52,487,753) | |
| Profit/(loss) for the period | 192,472,242 | (66,637,286) | |
| Earnings per share - basic and diluted (Rupees) | 1.36 | (0.47) |
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