Tax rebates save the day for Power Cement yet again

10:00
October 28, 2019
MG

October 28, 2019 (MLN): Power Cement Limited (POWER) has declared Profit after tax of Rs. 7.9 million for the quarter ended September 30, 2019, suggesting a decline of 27.8% against the earnings of same period last year.

It is worthwhile to note that the company actually incurred losses of Rs. 290 million, before tax benefits saved the progress.

The company witnessed a 34.6% decline in topline earnings, and a 16.3% decline in cost of sales. These changes resulted in an overall gross losses of Rs. 96.2 million.

Fortunately, tax rebates worth Rs. 297 million turned the company’s losses into profits, which were still less than the profits of previous year.

Profit and Loss Account for the quarter ended September 30, 2019 ('000 Rupees)
	Sep-19	Sep-18	% Change
Sales – net	583,023	892,112	-34.65%
Cost of sales	(679,292)	(812,455)	-16.39%
Gross (loss) / profit	(96,269)	79,657
Selling and distribution expenses	(35,609)	(34,034)	4.63%
Administrative expenses	(46,211)	(39,041)	18.37%
Other income	50	29	72.41%
Other operating expenses	12,267	(24,661)
Operating loss	(165,772)	(18,050)	818.4%
Finance income	5,017	964	420.44%
Finance costs	(129,295)	(43,120)	199.85%
Finance costs – net	(124,278)	(42,156)	194.81%
Loss before taxation	(290,050)	(60,206)	381.76%
Taxation	297,966	71,179	318.62%
Profit after taxation	7,916	10,973	-27.86%
Earnings per share – basic and diluted (Rupees)	0.007	0.01	-30.00%

Posted on: 2019-10-28T15:00:00+05:00

30790

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PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	278.60000	278.80000	278.80000	278.60000	01:02 PM
2	EUR	1.06990	1.07020	1.07020	1.06990	10:30 PM
3	GBP	1.24870	1.24890	1.24890	1.24870	10:30 PM
4	CHF	0.91464	0.91512	0.91512	0.91464	10:54 PM
5	JPY	158.09000	158.10000	158.10000	158.09000	10:30 PM
6	CAD	1.36780	1.36830	1.36830	1.36780	10:30 PM
7	AUD	0.65320	0.65360	0.65360	0.65320	10:30 PM
8	INR	83.40270	83.40320	83.40320	83.40270	08:00 PM
9	SAR	3.75050	3.75070	3.75070	3.75050	07:55 AM
10	AED	3.67240	3.67340	3.67340	3.67240	01:59 AM
11	HKD	7.82830	7.82840	7.82840	7.82830	10:30 PM
12	CNH	7.26210	7.26410	7.26410	7.26210	08:00 PM
13	CNY	7.24640	7.24650	7.24650	7.24640	09:11 PM
14	THB	36.99000	37.04000	37.04000	36.99000	08:00 PM
15	MYR	4.76500	4.77000	4.77000	4.76500	08:00 PM
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17	SGD	1.36210	1.36310	1.36310	1.36210	10:30 PM
18	NZD	0.59360	0.59420	0.59420	0.59360	09:39 PM
19	MXN	17.14510	17.17510	17.17510	17.14510	10:30 PM
20	TRY	32.50600	32.51000	32.51000	32.50600	08:00 PM
21	SEK	10.76040	11.01820	11.01815	10.76041	10:30 PM
22	ZAR	18.55910	18.96020	18.96019	18.55911	10:30 PM
23	NOK	11.03580	11.04180	11.04180	11.03580	10:30 PM
24	DKK	6.97030	6.97130	6.97130	6.97030	09:39 PM
25	ARS	875.82900	875.97800	875.97823	875.82872	10:54 PM
26	BDT	108.34000	111.70400	111.70397	108.33995	08:00 PM
27	BHD	0.37698	0.37713	0.37713	0.37698	06:54 PM
28	BRL	5.11480	5.11780	5.11780	5.11480	08:00 PM
29	KRW	1,376.43000	1,379.75000	1,379.75000	1,376.43000	08:00 PM
30	KWD	0.30808	0.30818	0.30818	0.30808	01:03 AM
31	LKR	293.46400	300.00500	300.00467	293.46353	08:00 PM
32	OMR	0.38476	0.38526	0.38526	0.38476	01:58 AM
33	QAR	3.64600	3.64800	3.64800	3.64600	01:59 AM
34	RUB	92.27000	92.29000	92.29000	92.27000	08:00 PM
35	AFN	71.37320	73.24210	73.24207	71.37317	08:00 PM
36	AZN	1.70000	1.70000	1.70000	1.70000	06:54 AM
37	TMT	3.35000	3.65000	3.65000	3.35000	08:00 PM
38	MVR	15.26000	15.66000	15.66000	15.26000	08:00 PM
39	UZS	12,638.40000	12,703.80000	12,703.82657	12,638.41518	08:00 PM
40	PHP	57.51700	57.76000	57.76000	57.51700	08:00 PM
42	NGN	1,305.72000	1,306.72000	1,306.72000	1,305.72000	08:00 PM
43	KES	131.42100	134.22400	134.22417	131.42083	08:00 PM
44	AMD	388.08000	388.08000	388.08000	388.08000	08:00 PM
45	TWD	32.58800	32.61800	32.61800	32.58800	08:00 PM
46	XAU	2,337.48000	2,338.39000	2,338.39000	2,337.48000	10:46 PM
47	XAG	27.15820	27.20580	27.20580	27.15820	10:46 PM
48	XPT	915.55000	917.95000	917.95000	915.55000	01:59 AM
49	XPD	954.21200	962.02800	962.02800	954.21200	02:00 AM
2,120	VES	36.33200	36.42320	36.42315	36.33204	08:00 PM
2,212	UGX	3,781.71000	3,865.81000	3,865.81320	3,781.71284	08:00 PM
2,213	TZS	2,549.64000	2,643.09000	2,643.08742	2,549.64257	08:00 PM

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	72,862.41	72,742.748	71,764.18	771.347	1.072	302,352,233.0	14,307,377,262.460	26/04/2024 05:12 PM
ALLSHR	47,721.89	47,489.465	47,040.09	314.510	0.667	540,778,150.0	22,562,380,076.020	26/04/2024 05:12 PM
KSE30	24,069.72	24,033.869	23,676.59	284.824	1.199	79,764,833.0	9,454,683,795.040	26/04/2024 05:12 PM
KMI30	122,624.63	122,414.850	120,539.93	1,511.894	1.251	130,473,781.0	8,715,975,575.960	26/04/2024 05:12 PM
KMIALLSHR	34,120.82	34,003.274	33,623.23	303.834	0.902	336,036,323.0	17,261,793,362.150	26/04/2024 05:12 PM
BKTi	18,098.00	18,061.700	17,783.46	189.341	1.059	12,829,416.0	1,502,941,695.300	26/04/2024 05:12 PM
OGTi	17,165.47	17,018.023	16,915.39	-13.038	-0.077	13,158,963.0	1,843,356,910.500	26/04/2024 05:12 PM

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Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	64,530.0	65,395.0	63,775.0	-740.00
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RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-1.25
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USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
CRUDE OIL – WTI	QCL	83.7	84.5	83.4	0.09
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