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THALL portrays a remarkable turnaround in financial performance

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January 24, 2020 (MLN): Thal Industries Corporation Limited has reported net earnings of Rs. 150.8 million (EPS: Rs. 10.04) for the quarter ended December 31, 2019, as opposed to losses of Rs. 250.8 million recorded in the same period of previous year.

This remarkable turnaround in performance was a result of humungous rise in gross profits, resulting from improvement in revenue and no change in cost of production.

Further adding to the company’s joy, the Distribution and Selling expenditure came down by 40.6%. Nonetheless, the company suffered some setbacks in the form of fall in non-core income by 40.7% and the presence of non-core expenditure of up to Rs. 15.7 million.

While the Finance cost increased merely by 3.5%, the tax expense depicted a substantial rise of 234%.

Financial Results for the quarter ended December 31, 2019 (Rupees)

 

Dec-19

Dec-18

% change

Sales – net

                     1,890,335,840

                     1,433,814,451

31.84%

Cost of sales

                   (1,408,488,391)

                   (1,418,088,044)

-0.68%

Gross profit

                         481,847,449

                           15,726,407

2963.94%

Distribution and selling expenses

                         (41,848,562)

                         (70,461,340)

-40.61%

Administrative expenses

                      (120,415,401)

                      (106,009,608)

13.59%

Other charges

                         (15,744,678)

   

Other income

                           22,984,076

                           38,809,265

-40.78%

Finance costs

                      (114,383,824)

                      (110,511,306)

3.50%

Profit before taxation

                         212,439,060

                      (232,446,582)

 

Taxation

                         (61,607,327)

                         (18,407,796)

234.68%

Profit after taxation

                         150,831,733

                      (250,854,378)

 

Basic and diluted earnings per share (Rupees)

                                      10.04

                                   (16.70)

 

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Posted on: 2020-01-24T17:33:00+05:00

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