Cost overrun weighs in on INIL's gross profits bringing down net profit by 19 percent

News Image

MG News | January 30, 2019 at 03:22 PM GMT+05:00

0:00

January 30, 2019 (MLN): International Industries Limited (INIL) suffered 21.9% decline in last quarter’s profits as its net income for the period (ended December 31, 2018) logged in at Rs.1.2 billion with EPS at Rs.6.48.

Meanwhile on a cumulative level for 9MFY19, the company’s net income stands at Rs.2.08 billion, EPS: Rs.10.85, marking a decline of 19.3%, YoY.

The company’s gross margins have fallen considerably by over 4%, indicating that the drop in INIL’s profitability can be attributed to cost overrun.

In addition to this, INIL also incurred higher finance cost this period as compared to last year’s corresponding period.

Consolidated Financial Results for the half year ended Dec 31, 2018 (Rupees in '000)

 

Dec-18

Dec-17

% Change

Net sales

                     32,781,689

                     31,151,679

5.23%

Cost of sales

                  (28,585,368)

                  (25,809,178)

10.76%

Gross profit

                       4,196,321

                       5,342,501

-21.45%

Selling and distribution expenses

                        (687,349)

                        (783,493)

-12.27%

Administrative expenses

                        (296,337)

                        (273,473)

8.36%

Reversal of impairment on trade debts

                             11,045

                                   905

1120.44%

Finance cost

                        (991,245)

                        (464,844)

113.24%

Other operating charges

                        (207,557)

                        (323,135)

-35.77%

Other income

                           419,547

                           149,173

181.25%

Share of profit in equity accounted investee - net of tax

                             18,788

                             21,642

-13.19%

Profit before taxation

                       2,463,213

                       3,669,276

-32.87%

Taxation

                        (387,300)

                     (1,095,511)

-64.65%

Profit after taxation for the year

                       2,075,913

                       2,573,765

-19.34%

Earnings per share - basic and diluted (Rupees)

                               10.85

                               14.40

-24.65%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 137,343.71
55.61M
0.71%
963.74
ALLSHR 85,109.25
96.52M
0.54%
460.90
KSE30 41,861.46
11.35M
0.76%
315.23
KMI30 193,192.01
10.49M
0.77%
1472.25
KMIALLSHR 56,095.57
63.95M
0.48%
267.83
BKTi 37,912.69
0.68M
0.22%
85.09
OGTi 27,653.98
0.47M
-0.06%
-16.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,650.00 119,915.00
118,035.00
-980.00
-0.82%
BRENT CRUDE 68.76 69.01
68.73
0.24
0.35%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
1.80
1.90%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-1.05
-0.99%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.72 66.99
66.58
0.34
0.51%
SUGAR #11 WORLD 16.55 16.67
16.40
-0.01
-0.06%

Chart of the Day


Latest News
July 17, 2025 at 09:47 AM GMT+05:00

UBL branches now open on Sundays


July 17, 2025 at 09:27 AM GMT+05:00

NBP issues foreign exchange rates


July 17, 2025 at 09:25 AM GMT+05:00

Asia markets subdued amid global uncertainty


July 17, 2025 at 09:10 AM GMT+05:00

Pakistan, El Salvador partner on bitcoin, digital asset


July 17, 2025 at 06:31 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg