Ismail Industries' annual profits escalate by 21% on the back on improved top-line earnings
MG News | September 24, 2018 at 03:53 PM GMT+05:00
September 24, 2018 (MLN): Ismail Industries Limited (ISIL)’s annual profits for the year ended June 30th 2018, escalated by 21% on a year-on-year basis, primarily due to considerable improvements in top-line earnings.
The company’s financial earnings for the year were reviewed earlier today during the Board of Directors meeting, where a comparison with the prior year’s earnings was drawn as well.
According to the financial earnings’ report issued to the PSX, the company’s sales witnessed a leap of around Rs.5 billion, exhibiting a growth of almost 22%.
Moreover, since cost of sales grew by a comparatively smaller margin, Ismail Industries’ gross profits increased by 44%.
Although selling and distribution expenses registered an increase of 74%, the company still managed to keep its operating profit on an upward trend, as they recorded a YoY rise of 16%.
In addition to this, taxation during the year dropped by almost 11%, therefore the company’s annual profits increased from Rs.1.1 billion to Rs.1.4 billion, YoY.
Earnings per share went up by 21% as well, as they rose from Rs.17.83 per share to Rs.21.6 per share.
The board also recommended a final cash dividend at Rs.4.5 per share, i.e. 45%.
| Consolidated Financial Results for the Year Ended June 30th 2018 (Rupees) | |||
|---|---|---|---|
|
| Jun-18 | Jun-17 | % Change |
| Sales | 28,055,265,973 | 23,014,395,587 | 21.90% |
| Sales tax | (4,149,047,950) | (3,409,534,324) | 21.69% |
| Net Sales | 23,906,218,023 | 19,604,861,263 | 21.94% |
| Cost of sales | (18,544,995,038) | (15,883,600,917) | 16.76% |
| Gross profit | 5,361,222,985 | 3,721,260,346 | 44.07% |
| Selling and distribution expenses | (2,896,266,866) | (1,663,043,697) | 74.15% |
| Administrative expenses | (413,888,986) | (287,688,879) | 43.87% |
| Operating profit | 2,051,067,133 | 1,770,527,770 | 15.84% |
| Other operating expenses | (254,651,191) | (147,686,289) | 72.43% |
| Other income | 232,816,026 | 195,266,876 | 19.23% |
| Finance cost | (618,097,025) | (671,271,174) | -7.92% |
| Share of profit from associated undertaking | 393,211,150 | 468,289,213 | -16.03% |
| Profit before tax | 1,804,346,093 | 1,615,126,396 | 11.72% |
| Taxation | (425,822,163) | (477,207,880) | -10.77% |
| Profit for the year | 1,378,523,930 | 1,137,918,516 | 21.14% |
| Earnings per share - basic and diluted | 21.60 | 17.83 | 21.14% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
| ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
| KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
| KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
| KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
| BKTi | 37,831.34 13.04M | 1.62% 603.62 |
| OGTi | 27,440.63 3.93M | -0.09% -23.70 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 118,955.00 | 119,275.00 117,905.00 | 1335.00 1.14% |
| BRENT CRUDE | 72.31 | 72.82 72.30 | -0.93 -1.27% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 69.94 | 70.41 69.92 | -0.06 -0.09% |
| SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|