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