Ittefaq Iron Industries profit rises to Rupees 133.708 million

MG News | February 27, 2018 at 02:33 PM GMT+05:00

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Ittefaq Iron Industries today released financial statements for the half year ending December, 31^st 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 30^th 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.

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