Qudsia Bano

Indus Dyeing & Manufacturing Company Limited’s revenue stood at Rs21.9 billion in the first six months of the ongoing financial year 2022-23 (6MFY23), down 7% from Rs23.7 billion over the corresponding period of the previous fiscal.The gross profit of the company also decreased by 59% to Rs1.95 billion in 6MFY23 from the gross profit of Rs4.77 billion recorded in 6MFY22. The company posted a net profit of Rs69.5 million in 6MFY23, down a massive 98% from the profit of Rs3.2 billion in 6MFY22, reports WealthPK.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales jumped to Rs75.3 billion from Rs49 billion in FY21, posting an increase of 53% year-on-year. The gross profit for FY22 jumped to Rs14.5 billion, 123% up from Rs6.5 million in FY21. Compared to a net profit of Rs3.8 billion in FY21, the after-tax profit leapt to Rs9.98 billion in FY22, posting a massive 158% growth on year-on-year basis.

In FY21, the earnings per share of the company was Rs70.98, which showed a remarkable growth of 159% and increased to Rs184.11 in FY22.

About the company

Indus Dyeing & Manufacturing Company was incorporated in Pakistan on July 23, 1957, as a public limited company under the Companies Act, 1913. The principal activity of the company is the manufacturing and sale of yarn.

Credit: Independent News Pakistan-WealthPk