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

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In a Board of Directors meeting held on July 30^th 2018, Siemens Pakistan Engineering Company Limited, discussed their financial earnings for the Nine Months Period ending on June 30^th 2018.

As compared to the nine months ending on June 30^th 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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