August 28, 2023 (MLN): Pakistan International Container (PSX: PICT) has managed to intact its profitability at Rs1.5 billion [EPS: Rs13.9] in 1HCY23, up by 10% YoY as compared to a profit of Rs1.38bn [EPS: Rs12.66] in the same period last year (SPLY).
Along with the results, the company announced an interim Cash Dividend for the quarter that ended June 30, 2023, at Rs20 per share i.e. 200%.
Going by the results, the company's top line went up by 8% YoY to Rs6.3bn as compared to Rs5.83bn in SPLY while the cost of sales surged by 12.15% YoY to Rs3.73bn in 1HCY23.
On the expense side, the company observed a notable increase of 52% YoY in administrative expenses to Rs433.91 million while the other expenses stood at Rs126.89.
The company’s finance costs surged by 99.82% YoY and stood at Rs1.09mn, mainly due to higher interest rates.
On the other hand, the company saw a substantially larger other income, up by 3.7x YoY to stand at Rs674mn in 1HCY23 as compared to Rs179m in SPLY.
On the tax front, the company paid Rs1.15bn against the Rs3.34bn paid in the corresponding period of last year, depicting an increase of 19.29% YoY.
|
Profit and Loss Account for the Half Year Ended June 30, 203 ('000 Rupees) |
|||
|---|---|---|---|
|
Jun-23 |
Jun-22 |
% Change |
|
|
Revenue – net |
6,301,533 |
5,833,921 |
8.02% |
|
Cost of services |
(3,738,538) |
(3,333,390) |
12.15% |
|
Gross profit |
2,562,995 |
2,500,531 |
2.50% |
|
Administrative expenses |
(433,914) |
(285,272) |
52.11% |
|
Other income |
674,486 |
179,098 |
276.60% |
|
Finance cost |
(1,095) |
(548) |
99.82% |
|
Other expenses |
(126,895) |
(41,111) |
208.66% |
|
Profit before taxation |
2,675,577 |
2,352,698 |
13.72% |
|
Taxation |
(1,157,962) |
(970,721) |
19.29% |
|
Profit after taxation |
1,517,615 |
1,381,977 |
9.81% |
|
Earnings per ordinary share – basic and diluted (Rupees) |
13.9 |
12.66 |
9.79% |
Copyright Mettis Link News
Posted on: 2023-08-28T15:51:50+05:00
