Karachi February 17, 2022: Lotte Chemical Pakistan Limited fall 2.44 percent or PKR 0.37 to trade at PKR 14.81 on skipping the announcing of cash dividend despite significant increase in profitability in today’s trading session at Pakistan Stock Exchange.
Company’s profitability increase by 2.2 times to PKR 4,642 million in 2021 compared to profitability of PKR 2,125 million during the last year.
Revenue for the year was higher than the corresponding period last year mainly due to higher PTA price. Lotchem generated a gross profit of PKR 7,581 million for the year as compared to gross profit of PKR 2,642 million during the same period last year.
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Distribution and selling expenses were 11.6 percent higher than the year last year. Administrative expenses were 14 percent lower than the last year due to overall impact of inflation.
The taxation charge for the year is based on statutory income tax rate and tax under Final Tax Regime (FTR) as adjusted by the movement in the deferred tax account.
Earnings per share (EPS) for the year stood at PKR 3.07 per share as compared to PKR 1.40 per share for 2020.
