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Siemens profits for the nine months ending on June 30th 2018 increase by 197%:Earnings report

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%
Posted on: 2018-07-31T09:48:00+05:00

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