ICI Pakistan Limited Announces Results for the Quarter ended

BUSINESS

Karachi (Press Release ): The Board of Directors of ICI Pakistan Limited is pleased to announce the Company’s financial results for the quarter ended September 30, 2018.

Financial Highlights

  • On a consolidated basis, including the results of the Company’s subsidiaries, ICI Pakistan PowerGen Limited, Cirin Pharmaceuticals (Private) Limited and NutriCo Morinaga (Private) Limited, net turnover for the quarter at PKR 13,299 million is 17% higher compared to the same period last year (SPLY) due to higher revenues mainly in the Polyester, and Soda Ash Businesses, which increased by 27% and, 43%, respectively. This was partially offset by lower revenues in the Life Sciences and Chemicals & Agri Sciences Businesses

 

  • The operating result for the quarter at PKR 1,032 million is 1% lower in comparison to the SPLY, due to decline in the Life Sciences and Chemicals & Agri Sciences Businesses. The performance of these Businesses was compensated by strong performances in the Polyester and Soda Ash Businesses by 993%, and 25%, respectively

 

  • Profit after Tax (PAT) for the quarter was PKR 546 million, with consolidated PAT being 34% lower than the SPLY mainly due to higher finance cost and higher taxation expenses. On an unconsolidated basis, PAT for the quarter at PKR 658 million is 11% lower than the SPLY

 

  • Earnings per share (EPS) for the quarter at PKR 5.83 is 34% lower than the SPLY. Company’s EPS on unconsolidated basis for the quarter is PKR 7.12 which is 11% lower compared to the SPLY