Panama Petrochem Ltd. Announces Unaudited Consolidated and Standalone Earnings Results for the Second Quarter and Six Months Ended September 30, 2015
October 31, 2015 at 06:35 am EDT
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Panama Petrochem Ltd. announced unaudited consolidated and standalone earnings results for the second quarter and six months ended September 30, 2015. For the quarter, on consolidated basis, the company reported sales/income from operations of INR 2,061.144 million compared to INR 2,274.119 million a year ago. Net sales/income from operations was INR 1,916.980 million compared to INR 2,109.444 million a year ago. Profit from operations before other income and finance costs was INR 105.844 million compared to INR 73.680 million a year ago. Profit from ordinary activities before tax was INR 84.675 million compared to INR 51.937 million a year ago. Net profit for the period was INR 56.408 million compared to INR 40.348 million a year ago. Basic and diluted EPS was INR 1.40 compared to INR 1.00 a year ago.
For the six months, on consolidated basis, the company reported sales/income from operations of INR 4,043.291 million compared to INR 4,407.394 million a year ago. Net sales/income from operations was INR 3,768.087 million compared to INR 4,079.095 million a year ago. Profit from operations before other income and finance costs was INR 238.328 million compared to INR 178.589 million a year ago. Profit from ordinary activities before tax was INR 198.867 million compared to INR 143.048 million a year ago. Net profit for the period was INR 139.843 million compared to INR 107.213 million a year ago. Basic and diluted EPS was INR 3.47 compared to INR 2.66 a year ago.
For the quarter, on standalone basis, the company reported sales/income from operations of INR 1,804.535 million compared to INR 2,005.197 million a year ago. Net sales/income from operations was INR 1,660.371 million compared to INR 1,840.522 million a year ago. Profit from operations before other income and finance costs was INR 97.336 million compared to INR 54.526 million a year ago. Profit from ordinary activities before tax was INR 79.976 million compared to INR 33.224 million a year ago. Net profit for the period was INR 51.709 million compared to INR 21.635 million a year ago. Basic and diluted EPS was INR 1.28 compared to INR 0.54 a year ago.
For the six months, on standalone basis, the company reported sales/income from operations of INR 3,611.262 million compared to INR 3,927.671 million a year ago. Net sales/income from operations was INR 3,336.058 million compared to INR 3,599.372 million a year ago. Profit from operations before other income and finance costs was INR 202.017 million compared to INR 142.037 million a year ago. Profit from ordinary activities before tax was INR 168.432 million compared to INR 108.410 million a year ago. Net profit for the period was INR 109.408 million compared to INR 72.575 million a year ago. Basic and diluted EPS was INR 2.71 compared to INR 1.80 a year ago.
Panama Petrochem Limited is an India-based company engaged in the manufacture of specialty petroleum products for diverse user industries, such as printing, textiles, rubber, pharmaceuticals, cosmetics, power, and other industrial oil. The Companyâs diverse range of products includes white oil/liquid paraffin oil, petroleum jelly, transformer oil, ink and coating oils, rubber process oil, industrial oils and greases, automotive oils, drilling fluids, waxes and other. Its wax products include fully refined paraffin wax, semi-refined paraffin wax, slack wax, micro wax, and others. Its petroleum jellies products include pangel SWJ, pangel WJ, pangel YJ, and material safety data sheet (MSDS). Its geographical segments include Domestic and Overseas. It has four manufacturing units in India and are located at Ankleshwar (Gujarat), Daman (Union Territory), Daman (Gujarat) and Taloja (Dist. Raigadh). The Company exports its products to the United States, the United Kingdom, Europe, and others.