Karachi January 27 2022: ICI Pakistan profitability increased by 145 percent to PKR 6,045 million for the six months period ending December 31 2021 as per company filing at Pakistan Stock Exchange.
Stock gained PKR 42.84 or 5.81 percent in today’s trading session with volume of just 600 shares as per data provided by PSX.
On a consolidated basis (including the results of the Company’s subsidiaries: ICI Pakistan PowerGen Limited, NutriCo Pakistan (Private) Limited and NutriCo Morinaga (Private) Limited), Net Turnover for the six months period under review was PKR 46,624 million, a 53% increase over the Same Period Last Year (SPLY). The Operating Result at PKR 6,759 million is higher by 79% in comparison to the SPLY.
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On a consolidated basis, Profit After Tax (PAT) for the six months period under review at PKR 6,045 million, is 145% higher than the SPLY whereas Earning Per Share (EPS) attributable to the owners of the holding company at PKR 62.69 is 119% higher than the SPLY. The improved performance was achieved on account of enhanced efficiencies delivered by the businesses, recovering consumer demand, consolidation of results of NutriCo Pakistan (Private) Limited, and a one-off net positive impact of PKR 1,847 million resulting from the re-measurement of the previously held equity interest of NutriCo Pakistan (Private) Limited.
Adjusting for the one-off gain of PKR 1,847 million due to the re-measurement of previously held equity interest, as explained above, PAT for the period under review would have been PKR 4,198 million, 70% higher versus the SPLY and EPS attributable to the owners of the holding company would have been PKR 42.69, higher by 49% as compared to the SPLY.
On a standalone basis, PAT and EPS for the six months period under review at PKR 3,569 million and PKR 38.65 respectively are 35% higher than the SPLY.
