SEARL's net profits decline by 2% YoY

MG News | April 27, 2020 at 03:43 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 27, 2020 (MLN): SEARLE Company Limited has reported around 2% YoY decline in net profits to Rs 1.76 billion for nine months ended on March 31, 2020, compared to the profits of Rs 1.79 billion in the same period last year.

The earnings per share of the company clocked in at Rs 8.11 per share against Rs 8.34 in the corresponding period last year.

During the period, the company’s revenues jumped to 13% YoY due to the rise in volumetric sales and rose in demand for essential medicines due to COVID-19 pandemic. However, the full impact of this will be perceived in 4QFY20.

The gross margins of the company declined marginally to 48% from 49% due to seasonality.

On the cost front, the company Admin expenses reduced by 3.4% YoY while its Distribution and other expenses surged by 11.29% and 44.49% respectively.

The company also witnessed a jump in effective tax rate from 18% to 30% which put a limit on the company’s profitability.

Consolidated Statement of Profit or Loss for the Nine months ended March 31st, 2020 ('000 Rupees)
	Mar-20	Mar-19	% Change
Revenue	15,102,987	13,374,554	12.92%
Cost of sales	(7,864,456)	(6,796,733)	15.71%
Gross profit	7,238,531	6,577,821	10.04%
Distribution costs	(3,497,023)	(3,142,393)	11.29%
Administrative expenses	(888,816)	(920,024)	-3.39%
Other operating expenses	(193,992)	(137,111)	41.49%
Other income	371,861	118,946	212.63%
Profit from operations	3,030,561	2,497,239	21.36%
Finance cost	(503,661)	(309,637)	62.66%
Profit before income tax	2,526,900	2,187,602	15.51%
Income tax expense	(768,893)	(398,437)	92.98%
Profit for the period	1,758,007	1,789,165	-1.74%
Basic and diluted earnings per share (Rupees)	8.11	8.34	-2.76%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	61,640.00	61,900.00 60,590.00	1805.00 3.02%
BRENT CRUDE	72.81	73.51 72.06	-0.93 -1.26%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	0.50 0.44%
ROTTERDAM COAL MONTHLY	126.50	0.00 0.00	0.60 0.48%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	69.63	70.21 68.90	-0.71 -1.01%
SUGAR #11 WORLD	14.06	14.08 13.86	0.04 0.29%