ICI Pakistan Limited profits rise by 2.88 percent to Rs. 2.464 billion

MG News | April 24, 2018 at 03:13 PM GMT+05:00

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ICI Pakistan Limited (ICI) today announced financial results for the nine months period ending 31 March, 2018 reporting Net Turnover at Rs. 36.133 billion. Furthermore, the company’s Gross Profit jumped at Rs. 6.619 billion during the outgoing nine months.

On the expenses front, ICI reported 10.30 percent increase in Selling & Distribution Expenses, 48.37 percent decrease in Administrative & General Expenses, whereas, other charges at the company jumped 69.76 percent during the period.

Furthermore, ICI also reported a 335.950 worth of Exchange Loss, coupled with a dividend income of Rs. 320 million and other income of 60.850 million.

ICI Pakistan Limited reported profit after taxation at Rs. 2.832 billion against Rs. 2.396 billion during the same period last year translating into an EPS of Rs. 26.69 vs. an EPS of Rs. 25.94 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Turnover	40,882,009	34,751,114	17.64%
Sales Tax	2,171,860	1,945,695	11.62%
Commission and Discounts	2,577,100	2,561,361	0.61%
Net Turnover	36,133,049	30,244,058	19.47%
Cost of Sales	29,513,132	24,601,239	19.97%
Gross Profit	6,619,917	5,642,819	17.32%
Selling and Distribution Expenses	2,095,182	1,899,600	10.30%
Administration and General Expenses	1,106,891	746,050	48.37%
Operating Results	3,417,844	2,997,169	14.04%
Finance Cost	388,546	279,342	39.09%
Exchange (loss)/Gain	(335,950)	348
Other Charges	34,656	20,415	69.76%
Dividend Income	320,000	629,000	-49.13%
Other Income	60,805	67,296	-9.65%
Profit before Taxation	2,832,552	3,162,963	-10.45%
Taxation	367,575	766,951	-52.07%
Profit after Taxation	2,464,977	2,396,012	2.88%
EPS - Basic and diluted	26.69	25.94	2.89%

Company release on Earnings Report can be accessed here.

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