December 26, 2018 (MLN): Shahmurad Sugar Mills Limited (SHSML) has shown remarkable progress over the year as its profits for the year ended September 30, 2018 grew by Rs.593 million, up by 8172% over the corresponding period of last year, reflecting an outstanding improvement in both core and non-core income during the period.
According to an official statement on the company’s financial earnings for the period, SHSML made 43% higher sales which resulted in gross profits to grow by Rs.226 million.
Although the company’s overall expenses increased substantially, a noteworthy jump of 3857% in other income, and a drop in share of loss in associated company by 22.4% as well as taxation by 35%, accounted for a sizeable rise in overall profits as they leapt from Rs.7 million to Rs.601 million over the year.
Other than this, SHSML’s basic and diluted earnings per share have grown by Rs.28 per share as they locked in at Rs.28.47 per share during the period under review.
|
Profit and loss account for the year ended September 30th 2018 (Rupees’000) |
|||
|---|---|---|---|
|
|
Sep-18 |
Sep-17 |
% Change |
|
Sales |
7,220,127 |
5,055,682 |
42.81% |
|
Cost of Sales |
-6,409,719 |
-4,471,788 |
43.34% |
|
Gross profit |
810,408 |
583,894 |
38.79% |
|
Profit from Trading Activities |
368 |
2,280 |
-83.86% |
|
Distribution expenses |
-644,558 |
-279,522 |
130.59% |
|
Administrative Expenses |
-229,170 |
-196,807 |
16.44% |
|
Other Operating expenses |
-53,695 |
-3,951 |
1259.02% |
|
Other Income |
900,077 |
22,742 |
3857.77% |
|
Operating Profit |
783,430 |
128,636 |
509.03% |
|
Finance Cost |
-234,939 |
-202,721 |
15.89% |
|
Share of loss in associate |
-242 |
-312 |
-22.44% |
|
Profit/(Loss) before taxation |
548,249 |
-74,397 |
|
|
Taxation |
53009 |
81665 |
-35.09% |
|
Profit after taxation |
601258 |
7268 |
8172.67% |
|
Earnings per share — Basic and diluted (Rupees) |
28.47 |
0.34 |
8273.53% |
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