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Ittefaq Iron Industries profit rises to Rupees 133.708 million

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Ittefaq Iron Industries today released financial statements for the half year ending December, 31st 2017. The company reported sales worth Rupees 3.130 billion whereas reporting a total of 133.708 million worth of profits for the period.

The company during the period reported a 57.44% rise in Distribution Costs, however, also reporting a 57% increase in Administrative Expenses.

The Ittefaq Iron reported profit after taxation at Rupees 133.708 million increasing by more than 85 percent during the period.

The management reported earnings per share of Rupees 1.02 per share against last year’s tally of Rupees 1.55 per share.

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Half Year Ended, December 30th 2017

Key Financials

2017

2016

% Change

 

Amounts in PKR

Net Revenue

3,130,818,925

1,964,386,420

59.38%

Cost of Sales

2,855,844,402

1,789,385,441

59.60%

Gross Profit

274,974,523

175,000,797

57.13%

Distribution Costs

8,869,768

5,633,819

57.44%

Administrative Expenses

34,231,917

21,811,973

56.94%

Operating Profit

231,872,838

147,555,187

57.14%

Other Income

6,620,644

4,418,053

49.85%

Finance Costs

56,854,300

50,603,248

12.35%

Profit before Taxation

169,106,079

94,375,462

79.18%

Taxation

35,397,120

22,199,345

59.45%

Profit/(Loss) after Taxation

133,708,959

72,176,117

85.25%

EPS

1.02

1.55

-34.19%

Company release on Earnings Report can be accessed here.

Posted on: 2018-02-27T14:33:00+05:00