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

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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.

Comparison of Key Financials
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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