The General Tyre and Rubber Company Limited profits fall by 30.70 percent to Rs. 580.720 million

The General Tyre and Rubber Company Limited (GTYR) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 8.774 billion; up 18.81 percent from same period last year. Furthermore, the company’s Gross Profit fell to Rs. 1.633 billion from Rs. 1.852 billion last year during the outgoing nine months.

On the expenses front, GTYR reported 4.14 percent increase in Distribution Costs, 23.44 percent increase in Administrative Expenses, whereas, Finance Costs incurred by the company went up by 105.53 percent during the period.

Furthermore, GTYR also reported a 14.36 percent increase in Other Income reaching Rs. 45.029 million during the nine months.

The General Tyre and Rubber Company Limited reported profit after taxation at Rs. 580.720 million against Rs. 838.007 million during the same period last year translating into an EPS of Rs. 9.72 vs. an EPS of Rs. 14.02 during the nine months ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018

Key Financials

March, 2018

March, 2017

% Change

 

Amounts in PKR’ 000

Sales

8,774,674

7,385,200

18.81%

Cost of Sales

7,140,875

5,533,193

29.06%

Gross Profit

1,633,799

1,852,007

-11.78%

Administrative Expenses

228,409

185,035

23.44%

Distribution Cost

326,103

313,129

4.14%

Other Income

45,029

39,374

14.36%

Other expenses

111,387

114,013

-2.30%

Profit from Operations

1,012,929

1,279,204

-20.82%

Finance Cost

183,089

89,082

105.53%

Profit before Taxation

834,925

1,194,275

-30.09%

Taxation

254,205

356,268

-28.65%

Profit for the Period

580,720

838,007

-30.70%

Total Comprehensive Income

580,720

838,007

-30.70%

EPS – Basic and diluted

9.72

14.02

-30.67%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-26T17:14:00+05:00