Hascol Petroleum Ltd. announced Financial Results for the period ended June 30, 2017.
The company’s Net Sales for the period increased by 79 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 29 percent.
The board has recommended an interim Cash Dividend for the half year ended June 30, 2017 at the rate of 35% i.e. Rs 3.50/- per share. The board issued no bonus or right shares.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Six Months Ended
Key Financials
Jan – June, 2017
Jan – Jun, 2016
% Change
Amounts in PKR ‘000
Sales – net
94,552,773
59,260,277
59.56%
Sales tax
17,022,134
15,964,165
6.63%
Net sales
77,530,639
43,296,112
79.07%
Other Revenue
211,890
70,852
199.06%
Net Revenue
77,742,529
43,366,964
79.27%
Cost of Products Sold
74,692,636
41,197,394
81.30%
Gross Profit
3,049,893
2,169,570
40.58%
Selling and dist: Expenses
1,167,850
771,993
51.28%
Admin: Expenses
301,082
258,263
16.58%
Other income
133,675
90,044
48.46%
Operating Profit
1,714,636
1,229,358
39.47%
Finance Cost
262,358
211,013
24.33%
Other (charges)/income
22,647
32,460
-30.23%
Profit before Taxation
1,429,631
985,885
45.01%
Taxation
639,024
373,858
70.93%
Profit for the period
790,607
612,027
29.18%
EPS – Basic & diluted
6.55
5.07
29.19%
Company release on Earnings Report can be accessed here.
