Earnings Report: Nimir Resins Ltd. (PSX: NRSL) today reported Financial Results for the Year ended June 30, 2017

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Nimir Resins Ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Sales for the period increased by 50.10 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 40.04 percent.

The board has not recommended any Dividend for the year. Whereas, the board issued 2.20% bonus shares for the period, the utilization scheme for the Right Issue fund totaled to Rs. 385 Million for repayment and/or adjustment of sponsor loans and Rs. 28 Million on BMR (balancing, modernizing and replacement) of production facilities.

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Year Ended

Key Financials

2017

2016

% Change

 

Amounts in PKR

Sales

2,668,804,664

1,778,018,742

50.10%

Cost of Sales

2,371,467,054

1,543,831,444

53.61%

Gross Profit

297,337,610

234,187,298

26.97%

Dist: Cost

45,437,159

45,675,999

-0.52%

Admin: Expenses

31,407,570

52,121,218

-39.74%

Operating Profit

55,661,267

136,390,081

-59.19%

Other operating expenses

60,992,853

36,284,159

68.10%

Finance cost

7,236,751

49,972,239

-85.52%

Other Income

11,075,512

22,744,813

-51.31%

Profit before Taxation

36,738,862

72,878,496

-49.59%

Taxation

74,336,650

19,796,345

275.51%

PAT

74,336,650

53,082,151

40.04%

EPS – Basic & diluted

0.27

0.24

12.50%

Company release on Earnings Report can be accessed here.

Posted on: 2017-09-20T14:54:00+05:00

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