Sanghar Sugar Mills enjoys profits this year due to higher non-core income
MG News | December 31, 2018 at 10:08 AM GMT+05:00
December 31, 2018 (MLN): Sanghar Sugar Mills Limited (SANSM) has reported annual profit for the year ended September 30, 2018 at Rs.19.4 million, EPS: Rs.1.63.
This marks a remarkable improvement on the company’s part since financial results for the corresponding period of last year showed a loss of Rs.287 million.
The sales (Rs.3.4 billion) for the year expanded by Rs.822 million (+31%, YoY) whereas last year’s gross loss of 70.6 million has turned into a gross profit of Rs.98.5 million.
The company’s overall operating cost grew by 44%, while finance cost has jumped up by 29%.
Sanghar Sugar Mill’s operating loss during the year stands at Rs.38.6 million, but fortunately non-core income worth Rs.185 million pulled the company from last year’s losses to profit.
| Profit and Loss Statement for year ended September 30, 2018 ('000 Rupees) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Sales | 3,405,535 | 2,583,232 | 31.83% |
| Cost of Sales | 3,307,015 | 2,653,892 | 24.61% |
| Gross Profit/(Loss) | 98,520 | (70,660) |
|
| Profit from trading activities | 3,553 | - |
|
|
| 102,073 | (70,660) |
|
| Distribution cost | 41,879 | 796 | 5161.18% |
| Administrative cost | 90,971 | 84,937 | 7.10% |
| Other operating cost | 7,812 | 11,622 | -32.78% |
|
| 140,662 | 97,355 | 44.48% |
| Operating Loss | (38,589) | (168,015) | -77.03% |
| Other income | 185,391 | 2,617 | 6984.10% |
|
| 146,802 | (165,398) |
|
| Finance cost | 121,934 | 94,280 | 29.33% |
| Profit/(Loss) before taxation | 24,868 | (259,678) |
|
| Taxation | 5,442 | 27,426 | -80.16% |
| Profit/(Loss) after taxation | 19,426 | (287,104) |
|
| Earnings/(loss) per share - Basic | 1.63 | (24.03) |
|
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