September 21, 2022: Ittehad Chemicals Limited (ICL) announced results for FY22, wherein the company’s profit declined by 36.90%, the company’s stock filing on the stock exchange showed.
In the filing, the company posted a profit after taxation of Rs0.41billion decline by 36.90% against the Rs0.66bn in FY21, translating into earnings per share of Rs4.14 against Rs6.57 in FY21.
The top line of the ICL jumped by 29.06%, to Rs15.68bn against Rs11.12bn in FY21. Gross profit is up by 8.68%, to Rs2.06bn against Rs1.88bn in FY21.
In FY22, profit before taxation declined by 22.06% to Rs0.76bn against Rs0.98bn in FY21. The decline in profits is mainly due to increased financial charges by 31.69%.
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