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

0:00

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)

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	150,858.25 140.88M	-2.99% -4653.32
ALLSHR	90,279.85 238.69M	-2.63% -2441.73
KSE30	45,628.45 62.48M	-3.24% -1527.88
KMI30	218,514.50 55.92M	-3.06% -6893.62
KMIALLSHR	58,981.78 138.46M	-2.63% -1595.47
BKTi	41,748.88 21.83M	-3.55% -1537.51
OGTi	31,274.50 6.77M	-3.47% -1125.79

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,890.00	68,875.00 66,375.00	-1450.00 -2.12%
BRENT CRUDE	108.45	108.49 99.08	7.29 7.21%
RICHARDS BAY COAL MONTHLY	112.50	0.00 0.00	6.40 6.03%
ROTTERDAM COAL MONTHLY	113.75	0.00 0.00	0.35 0.31%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	106.93	107.05 97.50	6.81 6.80%
SUGAR #11 WORLD	15.40	15.50 15.29	0.11 0.72%