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THALL’s annual profits suffer a dip of 18.4% YoY

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September 9, 2020 (MLN): Thal Limited (THALL) has reported 18.4% YoY decline in its net profits for FY20 from Rs 3.96 billion to Rs 3.23 billion.

Accordingly, the earnings per share of the company plummeted by 19.39% from Rs 44.2 to Rs 36.63.

As per company’s consolidated financial statement, its Sales revenue during FY20 went down notably by 26.9% YoY to Rs. 17.2 billion as compared to Rs. 23.5 billion in FY19, mainly due to lower turnover from engineering segment.

The lower income from engineering segment was due to overall plunge in car sales as FY20 continued to be the challenging period for Auto industry.

On the expenses front, THALL reported 21.7% decline in Distribution Costs, 4.52% increase in Administrative Expenses, whereas, Other Charges incurred by the company went down by 32.9 percent during FY20.

Furthermore,  43% rise in share of net profit of associates, 14% increase in other income,  and a 33.5% decline in tax expenses provided cushion to the comapny's earnings.

Alongside financial results, the company has also declared a final cash dividend at Rs.3.5 per share, i.e. 70%. This is in addition to interim dividends already paid at Rs.1.5 per share, i.e. 30%.

Consolidated Financial Results for the year ended June 30, 2020 ('000 Rupees)

 

Jun-20

Jun-19

% change

Revenue – net

 17,202,937

 23,544,641

-26.93%

Cost of sales

 (15,256,801)

 (19,469,021)

-21.64%

Gross profit

 1,946,136

 4,075,620

-52.25%

Distribution costs

 (202,994)

 (259,328)

-21.72%

Administrative expenses

 (1,322,565)

 (1,265,361)

4.52%

Other charges

 (401,204)

 (597,979)

-32.91%

Other income

 3,132,923

 2,741,244

14.29%

Operating profit

 3,152,296

 4,694,196

-32.85%

Finance costs

 (172,679)

 (24,842)

595.11%

Share of net profit of associates and joint ventures-after tax

 1,347,214

 941,312

43.12%

Profit before taxation

 4,326,831

 5,610,666

-22.88%

Taxation

 (1,095,094)

 (1,648,356)

-33.56%

Profit after taxation

 3,231,737

 3,962,310

-18.44%

Basic and diluted earnings per share (Rupees)

 35.63

 44.20

-19.39%

 

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Posted on: 2020-09-09T14:07:00+05:00

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