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
