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Karachi, July 18, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on Wednesday, 17th July 2013 at 2:30 pm at the corporate office of the Company 10th Floor. The Harbour Front, Dolmen City, HC-3, Block-4, Marine Drive, Clifton, Karachi, has approved the unaudited Financial Statements of the Company for the half year ended 31st December 2012.
The financial results of the Company are as follows:
Six months period ended Three months period ended
31 December 31 December 31 December 31 December
2012 2011 2012 2011
(Rupees in ‘000)
Gross sales 32,082,413 9,340,907 18,609,628 3,403,037
Sales tax, discount and others (5,385,192) (1,012,164) (3,059,014) (422,168)
---------- --------- ---------- ---------
Net sales 26,697,221 8,328,743 15,550,614 2,980,869
Cost of sales 26,397,541 9,304,814 15,478,202 3,554,291
---------- --------- ---------- ---------
Gross profit/ (loss) 299,680 (976,071) 72,412 (573,422)
Operating expenses
Administrative expenses 408,923 417,913 262,022 216,118
Selling and distribution expenses 258,514 248,156 203,782 75,886
---------- --------- ---------- ---------
667,437 666,069 465,804 294,004
---------- --------- ---------- ---------
(367,757) (1,642,140) (393,392) (867,426)
Other income 485,455 647,648 168,624 334,440
---------- --------- ---------- ---------
117,698 (994,492) (224,768) (532,986)
Financial and other charges
Financial charges 1,336,877 1,110,264 695,449 519,899
Exchange differences-net 173,309 104,747 163,666 9,424
---------- --------- ---------- ---------
1,510,186 1,215,011 859,115 529,323
---------- --------- ---------- ---------
Loss before taxation (1,392,488) (2,209,503) (1,083,883) (1,062,309)
Taxation
Current 142,915 29,497 83,587 8,945
Prior year - 33,274 - 33,274
Deferred (100,008) (100,181) (50,000) (51,101)
---------- --------- ---------- ---------
42,907 (37,410) 33,587 (8,882)
---------- --------- ---------- ---------
Net loss after taxation (1,435,395) (2,172,093) (1,117,470) (1,053,427)
---------- --------- ---------- ---------
(Rupees)
Loss per share-basic and diluted (1.47) (2.22) (1.14) (1.08)
---------- --------- ---------- ---------
Consolidated Profit and Loss Account
Six months period ended Quarter ended
Jul-Dec Jul-Dec Oct-Dec Oct -Dec
2012 2011 2012 2011
(Rupees in ‘000)
Gross sales 32,101,880 9,178,800 18,695,324 3,403,037
Sales tax discount and others (5,385,192) (989,804) (3,125,243) (422,168)
---------- --------- ---------- ---------
Net sales 26,716,688 8,188,996 15,570,081 2,980,869
Cost of Sales 26,397,364 9,230,468 15,474,709 3,554,291
---------- --------- ---------- ---------
Gross profit/ (loss) 319,324 (1,041,472) 95,372 (573,422)
Operating expenses
Administrative expenses 434,937 456,504 280,549 218,118
Selling and distribution expenses 258,514 248,156 203,782 75,886
---------- --------- ---------- ---------
693,451 704,660 484,331 294,004
---------- --------- ---------- ---------
Operating (loss)/ profit (374,127) (1,746,132) (388,959) (867,426)
Other income 453,965 431,007 152,865 334,440
---------- --------- ---------- ---------
79,838 (1,315,125) (236,094) (532,986)
Financial and other charges
Financial charges 1,337,163 1,110,772 695,631 519,899
Exchange differences 173,309 104,747 163,667 9,424
---------- --------- ---------- ---------
1,510,472 1,215,519 859,298 529,323
---------- --------- ---------- ---------
(Loss)/ Profit before taxation (1,430,634) (2,530,644) (1,095,392) (1,062,309)
Taxation
Current 142,424 30,443 83,021 8,945
Prior Year - 33,274 - 33,274
Deferred (100,490) (100,731) (50,915) (51,101)
---------- --------- ---------- ---------
41,934 (37,014) 32,106 (8,882)
---------- --------- ---------- ---------
(Loss)/ Profit after taxation (1,472,568) (2,493,630) (1,127,498) (1,053,427)
---------- --------- ---------- ---------
(Loss)/ Profit per share-basic and diluted (Rupees) (1.51) (2.55) (1.151) (1.08)
---------- --------- ---------- ---------
We will be sending you 300 copies of printed accounts for distribution amongst the members of the exchange.
For more information, contact:
Director
Byco Petroleum Pakistan Limited
The Harbour Front, 9th Floor,
Dolmen City, HC – 3, Block – 4,
Marine Drive, Clifton, Karachi – 75600, Pakistan
UAN: (92 21) 111 222 081
Fax: (92 21) 111 888 081
Web: www.byco.com.pk