KARACHI: Ismail Industries Limited has announced massive 150 per cent growth in its after tax profit for the first quarter (July – September) of the fiscal year 2022-2023.
According to consolidated financial results shared with the Pakistan Stock Exchange (PSX), the company announced profit after tax at Rs1.21 billion for the three months period ended September 30, 2022 as compared with Rs485 million in the corresponding period of the last year.
Earnings per share both basic and diluted is at Rs18.61 for the period under review as compared with Rs7.57 in the same period of the last year.
Ismail Industries Limited is one of the largest food companies in Pakistan, manufacturing a wide range of confectionery, biscuits, snacks and packaging films under the brand names of CandyLand, Bisconni, SnackCity and Astro Films respectively.
Board of Directors of the company met on October 24, 2022 approved the financial results and announced no interim cash dividend / bonus shares for the quarter ended September 30, 2022.
Net sales of the company grew to Rs21.94 billion for the quarter ended September 30, 2022 as compared with Rs14.57 billion in the corresponding quarter of the last fiscal year.
Cost of sales came at Rs15.45 billion for the quarter under review as compared with Rs10.43 billion in the same quarter of the last year.
The company recorded selling and distribution expenses at Rs1.74 billion for the quarter July – September 2022 as compared with Rs1.22 billion in the corresponding quarter of the last year.
Administrative expenses of the company were at Rs301 million for the period of three months ended September 30, 2022 as compared with Rs226 million in the same period of the last year.
Profit before taxation recorded at Rs1.46 billion for the quarter ended September 30, 2022 as compared with Rs709 million in the same quarter of the last fiscal year.
