Kohinoor Industries Limited earns Rs43.56m in FY23, up by 32% YoY

MG News | September 28, 2023 at 01:08 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 28, 2023 (MLN): Kohinoor Industries Limited (PSX: KOIL) 's profitability increased by 32.15% YoY in FY23, clocking in its profit after tax at Rs43.56 million [EPS: Rs1.44] compared to a profit of Rs32.96m [EPS: Rs1.09] in last year.

Going by the results, the rental income rose by 14.99% YoY to Rs78.28m as compared to Rs68.08m in SPLY.

Moreover, the company managed to earn other income of Rs43.74m in FY23 as compared to Rs12.74m in SPLY, which is a significant rise of 3.43x YoY.

On the expense side, the company observed a rise in administrative expenses by 10.89% YoY and other expenses by 4.7x YoY to clock in at Rs31.28m and Rs34.88m respectively during the review period.

The company’s finance costs grew by 41.98% YoY and stood at Rs17.49m as compared to Rs12.32m in FY23, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs11.9m against the Rs11.49m paid in the corresponding period of last year, depicting a rise of 3.57% YoY.

Unconsolidated (un-audited) Financial Results for year ended 30 June, 2023
	June 23	June 22	% Change
Rental income	78,277,593	68,075,548	14.99%
Administrative expenses	(31,278,570)	(28,206,111)	10.89%
Share of loss of associate	(374,490)	(728,568)	-48.60%
Other Income	43,743,502	12,738,395	243.40%
Other expenses	(34,881,419)	(7,408,007)	370.86%
Finance cost	(17,488)	(12,317)	41.98%
Profit before taxation	55,469,128	44,458,940	24.76%
Taxation	(11,904,837)	(11,494,075)	3.57%
Net profit for the period	43,564,291	32,964,865	32.15%
Basic earnings/ (loss) per share	1.44	1.09	-

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,765.22 212.46M	0.16% 266.28
ALLSHR	103,241.06 481.66M	0.13% 137.96
KSE30	50,813.89 65.25M	0.15% 74.20
KMI30	244,391.30 71.96M	0.08% 186.13
KMIALLSHR	66,928.26 309.74M	0.08% 55.24
BKTi	47,274.31 12.11M	0.30% 141.41
OGTi	35,009.43 4.22M	0.13% 46.86

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	84,535.00	84,565.00 84,120.00	115.00 0.14%
BRENT CRUDE	104.38	106.59 103.11	-2.22 -2.08%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	-0.55 -0.45%
ROTTERDAM COAL MONTHLY	136.55	137.10 133.60	0.65 0.48%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	92.44	94.75 91.51	-2.17 -2.29%
SUGAR #11 WORLD	18.54	18.75 18.43	-0.07 -0.38%