Lotte Chemical turns to profit
The chemical manufacturer had booked a loss of Rs182 million in the same quarter of previous year
PHOTO: PR
KARACHI:
Lotte Chemical Pakistan Limited turned to profit with earnings of Rs313 million in the quarter ended March 31, 2017 on the back of increased sales and reduced cost, according to a bourse filing on Wednesday.
The chemical manufacturer had booked a loss of Rs182 million in the same quarter of previous year.
It reported earnings per share of Rs0.21 in the January-March quarter compared to loss per share of Rs0.12 last year.
Stock price of the company fell 0.17%, or Rs0.02, to Rs11.59 with trading in 13.34 million shares at the Pakistan Stock Exchange.
Revenue rose 31% to Rs10.60 billion from Rs8.11 billion. Cost of sales dropped to 95.47% (Rs10.12 billion) of total sales from 102.09% (Rs8.28 billion).
Other income soared to Rs58 million from Rs18 million. On the flip side, finance cost rose to Rs9 million from Rs3 million.
Published in The Express Tribune, April 27th, 2017.
Lotte Chemical Pakistan Limited turned to profit with earnings of Rs313 million in the quarter ended March 31, 2017 on the back of increased sales and reduced cost, according to a bourse filing on Wednesday.
The chemical manufacturer had booked a loss of Rs182 million in the same quarter of previous year.
It reported earnings per share of Rs0.21 in the January-March quarter compared to loss per share of Rs0.12 last year.
Stock price of the company fell 0.17%, or Rs0.02, to Rs11.59 with trading in 13.34 million shares at the Pakistan Stock Exchange.
Revenue rose 31% to Rs10.60 billion from Rs8.11 billion. Cost of sales dropped to 95.47% (Rs10.12 billion) of total sales from 102.09% (Rs8.28 billion).
Other income soared to Rs58 million from Rs18 million. On the flip side, finance cost rose to Rs9 million from Rs3 million.
Published in The Express Tribune, April 27th, 2017.