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January 29, 2020

ICI profit up 130pc in 2HCY19

Business

January 29, 2020

KARACHI: ICI Pakistan Limited on Tuesday said its standalone profit after tax jumped 130 percent to Rs2,070 million for the six months ended on December 31, 2019, compared to the same period last year, on improved operations and stable exchange rate.

The company in a statement also reported the EPS (earning per share) increased 130 percent to Rs22.41, compared to the previous year.

On the other hand, the company said its consolidated profit after tax, for the period under review, rose 124 percent to Rs1,846 million, compared to same period last year, translating into EPS of Rs20.05, which was 127 percent higher than reported for second half of the 2018.

It added that despite higher interest expense during the period under review as compared to the same period last year, these improved results were driven mainly by operational excellence and a stable exchange rate in comparison to the same period of 2018.