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
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.
| Unconsolidated Profit and Loss Account - For the Six Months Ended, March 30th 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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