Thal Industries reports a 49% improvement in profits during the quarter

January 25, 2021 (MLN): Thal Industries Corporation has announced the financial results for the quarter ended December 31, 2020, which show a profit after tax of Rs. 224.8 million i.e. nearly 49% higher as compared to the earnings recorded in same period of last year.

The revenue of the company remained somewhat static at Rs. 1.8 billion, whereas cost of sales dropped by 7% to Rs. 1.3 billion. This resulted in a 16.6% improvement in gross profits.

The company also saw a 34% drop in distribution expense, whereas administrative expense grew by 32%. The earnings were further dented by a 15% decline in other income and 51% increase in other expenses.

However, some respite was drawn from a 57% decline in finance cost. The company paid an income tax of Rs. 96.3 million, i.e. nearly 56% higher than the tax paid during the same period of last year.

Financial Results for the Quarter ended December 31, 2020 (Rupees)

 

Dec-20

Dec-19

% Change

Sales – net

1,869,697,057

1,890,335,840

-1.1%

Cost of sales

(1,307,940,070)

(1,408,488,391)

-7.1%

Gross profit

561,756,987

481,847,449

16.6%

Distribution and selling expenses

(27,558,530)

(41,848,562)

-34.1%

Administrative expenses

(159,369,159)

(120,415,401)

32.3%

Operating profit

374,829,298

319,583,486

17.3%

Other income

19,638,233

22,984,076

-14.6%

Finance cost

(49,458,170)

(114,383,824)

-56.8%

Other expenses

(23,805,646)

(15,744,678)

51.2%

Profit before taxation

321,203,715

212,439,060

51.2%

Taxation

(96,361,115)

(61,607,327)

56.4%

Profit after taxation

224,842,600

150,831,733

49.1%

 

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Posted on: 2021-01-25T13:59:00+05:00

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