Siemens (Pakistan) Limited profits rise by 889.29 percent to Rs. 878.497 million

MG News | May 03, 2018 at 03:36 PM GMT+05:00

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Siemens (Pakistan) Limited (SIEM) today announced financial results for the six months period ending 31 March, 2018 reporting Net Sales and Services at Rs. 10.207 billion; up 85.11 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 2.15 billion from Rs. 598.780 million last year during the outgoing six months.

On the expenses front, SIEM reported 20.01 percent increase in Meeting and Selling Expenses, 87.53 percent increase in General Administration Expenses, whereas, Other Operating Expenses incurred by the company went up by 497.04 percent during the period.

Furthermore, SIEM also reported a 63.04 percent decrease in Financial Income reaching Rs. 34.016 million during the six months.

Siemens (Pakistan) Limited reported profit after taxation at Rs. 878.497 million against Rs. 88.711 million during the same period last year translating into an EPS of Rs. 106.52 vs. an EPS of Rs. 10.76 during the six months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Six Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Net Sales and Services	10,207,374	5,514,174	85.11%
Cost of Sales and Services	8,052,268	4,915,394	63.82%
Gross Profit	2,155,106	598,780	259.92%
Marketing and Selling Expenses	462,422	385,327	20.01%
General Administrative Expenses	124,789	66,543	87.53%
Other Income	60,330	6,448	835.64%
Other Operating Expenses	115,611	19,364	497.04%
Net Other Operating Expenses	55,281	12,916	328.00%
Operating Profit	1,512,614	133,994	1028.87%
Financial Income	34,016	92,032	-63.04%
Financial Expenses	14,962	8,374	78.67%
Net Finance Income/(Expense)	19,054	83,665	-77.23%
Profit before Income Tax	1,531,668	217,652	603.72%
Income Tax	653,171	128,941	406.57%
Net Profit for the Period	878,497	88,711	890.29%
EPS - Basic and diluted	106.52	10.76	889.96%

Company release on Earnings Report can be accessed here.

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