March 12, 2020 (MLN): Jehangir Siddiqui Company Limited (JSCL) has reported a 74% change in net profits for the year ended December 31, 2019, up from Rs. 206.8 million last year to Rs. 359.8 million this year.
Even though there was a fall of 2% in total income, the decline in total expenses by 8% resulted in a positive change in profit before taxation.
The company gained further respite from the decline in income tax expense by 47%, the impact of which led to the profits increasing by 74%.
The Earnings per share of the company for the period were reported at Rs. 0.39, i.e. 69% higher than the figure reported in the previous year.
Profit and Loss Account for the year ended December 30, 2019 ('000 Rupees) |
|||
---|---|---|---|
Dec-19 |
Dec-18 |
% Change |
|
INCOME |
|||
Return on investments |
958,703 |
1,017,452 |
-5.77% |
Gain on sale of investments – net |
64,881 |
56,147 |
15.56% |
Income from long-term loans and fund placements |
41,592 |
115,918 |
-64.12% |
Other income |
88,136 |
59,818 |
47.34% |
Gain/(loss) on remeasurement of investments through profit or loss – held for trading – net |
66,969 |
(3,688) |
|
Total Income |
1,220,281 |
1,245,647 |
-2.04% |
EXPENDITURE |
|||
Operating and Administrative expenses |
210,590 |
225,603 |
-6.65% |
Finance cost |
577,100 |
394,729 |
46.20% |
Provision for Sindh Workers' Welfare Fund |
9,837 |
9,005 |
9.24% |
(Reversal of) / provision for impairment – net |
(59,269) |
175,072 |
|
Total Expenditure |
738,258 |
804,409 |
-8.22% |
PROFIT BEFORE TAXATION |
482,023 |
441,238 |
9.24% |
Taxation |
122,213 |
234,373 |
-47.86% |
PROFIT FOR THE PERIOD |
359,810 |
206,865 |
73.93% |
Earnings per share – basic and diluted (Rupees) |
0.39 |
0.23 |
69.57% |
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