International Industries’ net profits decay by 96.7% YoY

Financial Results for the six months ended December 31, 2022 (Rupees in '000)

6MFY23

6MFY22

Change %

Net sales

45,442,289

                 57,431,394

-20.88%

Cost of sales

-40,145,250

              (48,584,584)

-17.37%

Gross profit

5,297,039

                   8,846,810

-40.12%

Selling and distribution expenses

-1,019,073

                 (1,643,728)

-38.00%

Administrative expenses

-337,824

                    (330,136)

2.33%

Reversal of loss allowance on trade debts

-2,417

                           2,496

-196.83%

-1,359,314

                 (1,971,368)

-31.05%

Operating Profit

3,937,725

                   6,875,442

-42.73%

Finance cost

-2,582,811

                 (1,015,913)

154.24%

Other operating charges

-1,122,365

                    (636,594)

76.31%

-3,705,176

                 (1,652,507)

124.22%

Other income

450,462

                       448,307

0.48%

Share of profit in equity accounted investee – net of tax

44,740

                         73,195

-38.88%

Profit/(loss) before income tax

727,751

                   5,744,437

-87.33%

Income Tax Expense

-600,516

                 (1,823,286)

-67.06%

Profit after taxation for the year

127,235

                   3,921,151

-96.76%

(Loss)/Earnings per share – basic and diluted (Rupees)

0.50

                           16.54

-96.98%