ECONOMYNEXT - Profits at Distilleries Corporation of Sri Lanka, which has interests in alcohol, farming, telecoms and insurance rose 50 percent to 1.18 billion rupees in the September 2016 quarter from a year earlier, interim accounts showed, as new taxes were slapped in a budget for 2017.
The group reported earnings of 7.20 rupees per share for the quarter. For the six months to September the firm reported earnings of 13.70 rupees per share on total profits of 4.1 billion rupees, which were up 38 percent.
Quarter of quarter profits of the group can be volatile.
During the quarter, revenues at the core alcohol company, rose 43 percent to 23.6 billion rupees with excise taxes while net revenues rose 37.4 percent to 68 billion rupees.
From November 01, value added tax was imposed on alcohol and in the budget for 2017 another tax was slapped on ethanol imports. An evaporation allowance was also cut.
The group said in the six months to September out of a total of 5.6 billion rupees in profits 5.9 billion rupees came from beverages, 154 from financial services, 209 million from diversified.
Tea plantations lost 67 million rupees (down from 177 million a year earlier) and telecoms lost 553 million, up from 278 million rupees.
The group reported earnings of 7.20 rupees per share for the quarter. For the six months to September the firm reported earnings of 13.70 rupees per share on total profits of 4.1 billion rupees, which were up 38 percent.
Quarter of quarter profits of the group can be volatile.
During the quarter, revenues at the core alcohol company, rose 43 percent to 23.6 billion rupees with excise taxes while net revenues rose 37.4 percent to 68 billion rupees.
From November 01, value added tax was imposed on alcohol and in the budget for 2017 another tax was slapped on ethanol imports. An evaporation allowance was also cut.
The group said in the six months to September out of a total of 5.6 billion rupees in profits 5.9 billion rupees came from beverages, 154 from financial services, 209 million from diversified.
Tea plantations lost 67 million rupees (down from 177 million a year earlier) and telecoms lost 553 million, up from 278 million rupees.
No comments:
Post a Comment