Siemens profits for the nine months ending on June 30th 2018 increase by 197%:Earnings report
MG News | July 31, 2018 at 09:48 AM GMT+05:00
In a Board of Directors meeting held on July 30th 2018, Siemens Pakistan Engineering Company Limited, discussed their financial earnings for the Nine Months Period ending on June 30th 2018.
As compared to the nine months ending on June 30th 2017, Siemens’ Net Sales and Services increased by 58% while their Gross Profit went up by 105.5%.
Company’s General and Administrative Expenses increased by 63.7% but to provide counterbalance, Other Income jumped by 1574%.
However, Financial Income dropped by 71.5% while Financial Expenses increased by 197%.
Income tax payments increased by 158.8%
Overall Net Profit for the period increased by 197%
| Profit and Loss for the Nine Months' Period Ended June 30,2018 | |||
|---|---|---|---|
| 2018 | 2017 | % Change | |
| Net sales and services | 15,097,023 | 9,557,561 | 58.0% |
| Cost of sales and services | (12,287,097) | (8,190,356) | 50.0% |
| Gross Profit | 2,809,926 | 1,367,205 | 105.5% |
| Marketing and selling expenses | (641,414) | (626,406) | 2.4% |
| General administrative expenses | (161,064) | (98,416) | 63.7% |
| (802,478) | (724,822) | ||
| 2,007,448 | 642,383 | ||
| Other income | 107,108 | 6,397 | 1574.3% |
| Other operating expenses | (148,255) | (53,427) | 177.5% |
| Net other operating (expenses)/ income | (41,147) | (47,030) | -12.5% |
| Operating profit/(loss) | 1,966,301 | 595,353 | 230.3% |
| Financial income | 35,531 | 124,656 | -71.5% |
| Financial expenses | (36,636) | (12,305) | 197.7% |
| Net financial income | (1,105) | 112,351 | -101.0% |
| Profit/(loss) before income tax expense and gain on sale of assets classified as held for sale | 1,965,196 | 707,704 | 177.7% |
| Income tax | (920,249) | (355,609) | 158.8% |
| Net profit for the period | 1,044,947 | 352,095 | 196.8% |
| Basic and diluted earnings/(loss) per share (Rupees) | 126.71 | 42.69 | 196.8% |
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