Corporate Result: SHSML Profits declined by 42.2% in 3rd Quarter

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In a notification to the Pakistan Stock Exchange, Shahmurad Sugar Mills (PSX:SHMSL) released its financial results for the period ended June 30, 2020 approved by the board of directors.

The company reported a profit of Rs.605 Mn with the earnings per share amounting to Rs.28.65 for the period ended June 30, 2020. In a yearly comparison, profits for nine months ended June 30, 2019 was  48.2% higher than the present years profits.

The financial results show that the sales increased by 10% to the value of Rs.8.3 Bn as compared to the financial results of 2019. The distribution costs have decreased by 88% and admin expenses remained same while the other operating charges decreased by 39% to the value of Rs.50.3 Mn.

The financial results show that the three months ended June 30, 2020 have suffered due to global pandemic. The said period reports a profit of Rs.356 Mn with earnings per share amounting to Rs.16.88 whereas last year, the same period earned a profit Rs.617 Mn which indicates a decline of 42.2%.

SHMSL

Quarter ended

EPS 2020 = 28.65 PKR

EPS 2019 = 55.33 PKR

Nine Months Ended

EPS 2020 = 16.88 PKR

EPS 2019 = 29.23 PKR

Cash Dividend = NIL

Bonus Share = NIL