Image Pakistan reaps net profit of Rs102.6m in 6MFY23

March 24, 2023

Qudsia Bano

Image Pakistan Limited’s revenue from sales increased by 63% to Rs830.8 million in the first six months of the ongoing Financial Year 2022-23 (6MFY23) from Rs508.7 million in the corresponding period of the previous fiscal. Similarly, the gross profit increased by 51% to Rs358.3 million in 6MFY23 from the gross profit of Rs236.8 million recorded in 6MFY22. The company posted a net profit of Rs102.6 million in the first six months of the Fiscal Year 2022-23, 218% up from the profit of Rs32 million in the corresponding period of the previous year, reports WealthPK.

Performance in 2021-22

The company's gross sales increased by 72% year over year for the Fiscal Year 2022 to Rs1.7 billion from Rs1 billion in FY21. The gross profit increased by 69% from Rs442 million in FY21 to Rs744.8 million in FY22. The profit before tax increased to Rs172 million in FY22 from Rs155 million in FY21. WealthPK reports that the profit after tax climbed to Rs208 million in FY22, up from Rs115 million in FY21, representing a tremendous 81% year-over-year growth.

The company's earnings per share (EPS) was Rs2.02 in FY21; however, it soared to Rs2.37 in FY22.

About the company

Image Pakistan Limited, formerly Tri-Star Polyester Limited, was incorporated in Pakistan as a public limited company on November 14, 1990 under the Companies Ordinance, 1984 (Repealed with the enactment of the Companies Act, 2017 on May 30, 2017). The principal activity of the company is the manufacture and sale of embroidered fabric and ready-to-wear garments and polyester filament yarn.

Credit: Independent News Pakistan-WealthPk