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

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%.

Copyright Mettis Link News