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WEEKLY
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| ICI Pakistan posts Rs1.58bn profit |
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Wednesday, October 28, 2009
By our correspondent
KARACHI: ICI Pakistan has posted a profit after tax of Rs1.58 billion for nine months ended September 30. This is 16.65 per cent higher than Rs1.35 billion net earnings the company booked in the same period last year.
Accordingly, total earnings translate into earning per share of Rs11.40 against Rs9.78 for Jan-Sept 2008.
The company managed to attain higher profits despite a slight three per cent decline in its revenues, which stood at Rs23.79 billion for the period under review against Rs24.50 billion in the corresponding period of 2008.
A significant increase in its other operating income and notable reduction in financial charges played an important role in accreting the profits.
Other operating income surged to Rs320.70 million against Rs166.72 million recorded in the first nine months of 2008, showing an increase of over 93 per cent on yearly basis.
Financial charges reduced by 66 per cent to Rs121.15 million as compared to Rs356.70 million in same period last year.
In the last quarter alone, the company booked bottom-line profits at Rs557.37 million against Rs475.64 million in the same quarter of 2008.
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ISSN 1563-9479 
