Thal Industries Corporation has announced is Quarterly Financial Result where posted a profit after tax of PKR 224.8 million marking a 49% increase as compared to the earnings recorded in same period of last year.
Total revenue of the company remained stagnant at PKR 1.8 billion, while cost of sales declined by 7% to PKR 1.3 billion, leading to improved margins.
The company also witnessed a 34% drop in distribution expense, while administrative expense increased by 32%. The earnings were further impacted by a 15% decrease in other income and 51% increase in other expenses.
THAL Industries witnessed a 57% decline in finance cost owing to lower Interest Rates. The company witnessed higher effective taxation, with tax amount of PKR 96.3 million, marking 56% YoY increase.
| Thal Industries Quarterly Financial Results December 31, 2020 (Rupees) | |||
| Dec-20 | Dec-19 | % Change | |
| Net Sales | 1,869,697,057 | 1,890,335,840 | -1.1% |
| Cost of sales | (1,307,940,070) | (1,408,488,391) | -7.1% |
| Gross profit | 561,756,987 | 481,847,449 | 16.6% |
| Distribution and selling expenses | (27,558,530) | (41,848,562) | -34.1% |
| Administrative expenses | (159,369,159) | (120,415,401) | 32.3% |
| Operating profit | 374,829,298 | 319,583,486 | 17.3% |
| Other income | 19,638,233 | 22,984,076 | -14.6% |
| Finance cost | (49,458,170) | (114,383,824) | -56.8% |
| Other expenses | (23,805,646) | (15,744,678) | 51.2% |
| Profit before taxation | 321,203,715 | 212,439,060 | 51.2% |
| Taxation | (96,361,115) | (61,607,327) | 56.4% |
| Profit after taxation | 224,842,600 | 150,831,733 | 49.1% |
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