Growth in revenue drives up Thal Limited's profits by 17%
By MG News | February 21, 2019 at 02:13 PM GMT+05:00
February 21, 2019 (MLN): Thal Limited has declared consolidated profits of Rs. 1.9 billion for the half year ended December 31, 2018, approximately 17% higher than the parallel period last year. The company recorded its EPS at Rs. 21.72 for the same period.
The uplift in financial earnings was a result of better sales by the company, which drove up the gross profit figure by 20%. This figure was more than enough to combat the impact of increase in direct and indirect costs of the company.
Furthermore, the Board of Directors of the company proposed an Interim Cash Dividend for the half year ended December 31, 2018 at Rs. 2.5 per share i.e. 50%.
| Profit and loss account for the half year ended December 31 2018 (Rupees'000) | |||
|---|---|---|---|
|
| Dec-18 | Dec-17 | % Change |
| Revenue - net | 11,118,896 | 8,954,051 | 24.18% |
| Cost of sales | -9,032,754 | -7,221,127 | 25.09% |
| Gross Profit | 2,086,142 | 1,732,924 | 20.38% |
| Distribution costs | -136,762 | -107,042 | 27.76% |
| Administrative expenses | -763,655 | -743,602 | 2.70% |
| Other charges | -144,335 | -118,786 | 21.51% |
| Other income | 1,262,218 | 1,141,639 | 10.56% |
| Operating Profit | 2,303,608 | 1,905,133 | 20.92% |
| Finance costs | -7,651 | -3,925 | 94.93% |
| Share of net profit of associates - after tax | 501,305 | 405,348 | 23.67% |
| Profit before taxation | 2,797,262 | 2,306,556 | 21.27% |
| Taxation | -826,566 | -623,101 | 32.65% |
| Profit after taxation | 1,970,696 | 1,683,455 | 17.06% |
| Basic and diluted earnings per share | 21.72 | 18.43 | 17.85% |
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