EPCL posts Rs16.935m after tax profit

RECORDER REPORT

KARACHI: Engro Polymer & Chemicals Limited (EPCL) has posted Rs 16.935 million as profit after tax in the half year period ended June 30, 2012 as compared to after tax loss of Rs 207.148 million recorded in the same period in 2011.

The board of directors of the company in its meeting held here on Monday declared that the company’s earning per share stood at Re 0.03 in the period under review against per share loss of Re 0.31 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the company’s net revenue increased to Rs 9.880 billion in the first half of 2012 against Rs 7.894 billion in the same period last year. The cost of sales increased to Rs 8.211 billion against Rs 6.878 billion.

The company posted Rs 26.173 million as profit before taxation in the half year ended June 30, 2012 as compared to loss before taxation of Rs 319.397 million in the same period last year.

On quarterly basis, the company’s after tax loss has increased to Rs 394.825 million translating per share loss of Re 0.60 in the quarter ended June 30, 2012 as compared to after tax loss of Rs 139.440 million with per share loss of Re 0.21 in the same quarter in 2011.