Newly listed entity, Hi-Tech Lubricants has released its half yearly accounts for the period ended 31st December 2015 and also announced payment of 13 percent interim dividend among the shareholders.
It is an interesting story that needs to be shared with the stockholders. While the topline grew by 43 percent, the bottomline improved by 61 percent, gross margins were improved to 40 percent from 31 percent during the period under review.
During first half of FY16 sales grew to Rs3,432 million from Rs2,395 million for the corresponding period during period of last financial year.
A remarkable feature was colossal decline in other income to Rs2.84 million from Rs46.32 million.
Sale of lubricant, declining crude oil prices, declining interest rates