International Industries Ltd. sales rise by 62.15% to Rs. 12.168 billion

By MG News | January 25, 2018 at 04:13 PM GMT+05:00

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International Industries Ltd. (INIL) today announced financial results for the six months and three months ended December, 2017. Net sales for the period during the half year recorded a phenomenal growth of 62.15% to clock in at 12.168 billion rupees.

On the other hand, the cost of sales for the also jumped up by 74.41%, clocking in at Rs. 10.518 billion, company’s financial charges also took away more than 149% taking Rs. 232.503 million from bottom-line profits.

Company’s bottom-line profit declined by more than 10.76% reaching Rs. 719.452 million, with earning per share clocking in at 6 rupees per share.

In a separate notice, INIL mentioned that the board of directors resolved that, “a private limited liability company IIL Stainless Steel (Pvt.) ltd., a wholly owned subsidiary of International Industries Ltd. (INIL), be merged and amalgamated with and into IIL in accordance with the Scheme of Amalgamation”. AS such, as of the completion date of 31^st March, 2018 the entire undertaking of IIL Stainless Steel (Pvt.) Ltd. will stand merged with and into the company.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net Sales	12,168,289	7,504,316	62.15%
Cost of sales	10,518,189	6,030,862	74.41%
Gross profit	1,650,100	1,473,454	11.99%
Selling and distribution expenses	561,924	397,922	41.21%
Administrative expenses	150,159	127,856	17.44%
Financial charges	232,503	93,262	149.30%
Other operating charges	71,068	117,636	-39.59%
Other income	355,571	338,708	4.98%
Profit before taxation	990,017	1,075,486	-7.95%
Taxation	270,565	269,300	0.47%
Profit after taxation	719,452	806,186	-10.76%
EPS - Basic and diluted	6.00	6.72	-10.71%

Company release on Earnings Report can be accessed here.

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