Thal Industries posts profits

KARACHI: Thal Industries Corporation has announced a net profit of Rs190.579 million, translating into the earnings per share (EPS) of Rs12.69 for the quarter ended June 30, 2017, a statement said on Monday.

Thal’s earnings declined 4.4 percent in the quarter under review, as the company had posted a net profit of Rs199.313 million and EPS of Rs13.27 for the quarter ended June 30, 2016.

The decline in profitability can be attributed to higher administrative expenses and higher finance costs. For the quarter under review, sales turnover of the company stood at Rs5.269 billion as against sales of Rs3.525 billion in the same quarter of the last year.

However, operating profit clocked in at Rs400.425 million for the quarter ended June 30, 2017, marginally up as compared to the operating profit of Rs393.185 million during the same period of the last year.

Finance cost for the quarter stood at Rs115.822 million as against Rs96.158 million during the same quarter of the last year. Thal Industries Corporation did not announce any payouts along with the corporate earnings.