Byco books Rs57.17m profit

KARACHI: Byco Pakistan Petroleum Limited has booked a consolidated profit of Rs57.17 million in the quarter ended September 30 against a loss of Rs692.25 million in the same quarter last year, according to a bourse filing Thursday.

This translated into earnings per share at Rs0.06 as compared to loss per share at Rs0.71 in the corresponding quarter, the company said in a notification to the Pakistan Stock Exchange.

The share price of the company fell 4.64%, or Rs0.98, to Rs20.12 with a volume of 3.85 million shares changing hands at the exchange.

The gross sales improved to Rs22.56 billion from Rs21.34 billion in the quarter in 2015. Net sales, however, slightly declined to Rs17.08 billion from Rs17.10 billion in the corresponding quarter last year. It earned a gross profit of Rs963.53 million, which was 77% higher than Rs543.75 million booked in July-September 2015.

Published in The Express Tribune, October 28^th, 2016.

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