NICL doubles profits in 1HFY25

February 13, 2025 (MLN): Nimir Industrial Chemicals Limited (PSX: NICL) has reported its financial results for the half-year ended December 31, 2024, wherein the company doubled its profit for the period of Rs847.63 million, up from Rs415.42m in the same period last year, up by 104%.

The improved financial performance is further highlighted by the notable earnings per share (EPS) increase, which rose from Rs3.76 in 2023 to Rs7.66 in 1HFY25.

Despite a slight decrease in gross revenue from contracts with customers, which fell from Rs24.40 billion in 1HFY24 to Rs23.89bn in 1HFY25, the company managed to improve its gross profit.

 The cost of revenue was reduced from Rs17.67bn in 1HFY24 to Rs17.09bn 1HFY25, resulting in a gross profit of Rs3.30bn in 1HFY25, up from Rs2.95bn in 1HFY24.

Operating profit also increased, reaching Rs2.67bn during the review period. Distribution costs increased by 8.81%, from Rs238m in 1HFY24 to Rs259m in 1HFY25, while administrative expenses rose by 8.13%, from Rs385.43m in 1HFY24 to Rs416.7m in 1HFY25.

Other income saw a significant rise, increasing by 26.59% to Rs38.3m in 1HFY25.

Finance costs also went up by 11.46% to Rs299.32m in 1HFY25.

On the tax front, the company paid Rs416.8m in 1HFY25 during the review period.

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