ICI Pakistan’s consolidated profit after tax increases 124pc

The ICI Pakistan Limited’s Board of Directors has announced the company’s financial results for the six-month period ending December 31, 2019.

On a consolidated basis (including the results of the company’s subsidiaries: ICI Pakistan PowerGen, Cirin Pharmaceuticals and NutriCo Morinaga), net turnover for the six months period under review was Rs29,745 million, which was a 5pc higher than the corresponding period of last year.

The company’s profit after tax for the period under review was Rs1,846 million, which was 124pc higher than the last year, whereas its earnings per share clocked in at Rs20.05, which 127pc higher than the last year.

Despite higher interest expense during the period under review, these improved results were driven mainly by operational excellence and a stable exchange rate. The company recognised Rs286 million as share of profit from NutriCo Pakistan (Private) Limited.

On a standalone basis, PAT at Rs2,070 million and EPS at Rs22.41 per share was higher by 130pc compared to last year.

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