Ittehad Chemicals Limited profits rises by 53.42 percent to Rs. 202.115 million
MG News | April 25, 2018 at 02:20 PM GMT+05:00
Ittehad Chemicals Limited (ICL) today announced financial results for the nine months ending 31 March, 2018 reporting Net Sales at Rs. 4.329 billion; an increase of 19.50 percent. Furthermore, the company’s Gross Profit increased to Rs. 760.992 million from Rs. 508.191 million last year during the outgoing nine months.
On the expenses front, ICL reported 43.67 percent increase in Selling and Distribution Expenses, 6.79 percent increase in General and Administration Expenses, whereas, other operating expenses incurred by the company clocked in at Rs. 58.674 million during the period.
Furthermore, ICL also reported a 42.53 percent decrease in Other Operating Income reaching Rs. 47.518 million during the nine months.
Ittehad Chemicals Limited reported profit after taxation at Rs. 202.115 million against Rs. 131.742 million during the same period last year translating into an EPS of Rs. 2.62 vs. an EPS of Rs. 1.71 during the nine months ending March, 2017.
| Unconsolidated Profit and Loss Account - For the Nine Months Ended, 31 March, 2017 | |||
|---|---|---|---|
| Key Financials | 2018 | 2017 | % Change |
| Amounts in PKR ‘000 | |||
| Sales - net | 4,329,207 | 3,622,705 | 19.50% |
| Cost of Sales | 3,568,215 | 3,114,514 | 14.57% |
| Gross Profit | 760,992 | 508,191 | 49.75% |
| Selling and Distribution Expenses | 263,543 | 183,440 | 43.67% |
| General and Administration Expenses | 133,297 | 124,825 | 6.79% |
| Other Operating Expenses | 58,674 | 5,954 | 885.46% |
| Other Operating Income | 47,518 | 33,338 | 42.53% |
| Operating Profit | 352,996 | 227,310 | 55.29% |
| Financial Charges | 117,001 | 133,321 | -12.24% |
| Profit before Taxation | 235,995 | 93,989 | 151.09% |
| Taxation | 33,880 | 37,753 | -10.26% |
| Profit after Taxation | 202,115 | 131,742 | 53.42% |
| EPS - Basic and diluted | 2.62 | 1.71 | 53.22% |
Company release on Earnings Report can be accessed here.
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