Jawad Ahmed

Thal Limited’s revenue climbed 36.7% to Rs37.35 billion in the financial year ending June 30, 2022, compared with Rs27.32 billion over the corresponding period of FY21, reports WealthPK.

With the uptick in sales, the company’s gross profit, registering a growth of 39.3%, stood at Rs6.50 billion in FY22, leaping from Rs4.67 billion in the corresponding period of FY21.

During FY22, the company posted Rs5.93 billion profit-before-tax compared to Rs4.57 billion in the preceding year.

After statutory tax adjustments, the net profit came in at Rs4.25 billion, 22.2% higher than Rs3.48 billion in the same period of FY21. This increase in profit pushed the earning per share (EPS) to Rs52.54 from Rs42.97 in the preceding year.

Company’s performance over the years

The year 2019 witnessed an increasing trend in the company’s sales revenue, which increased to Rs22.499 billion from Rs19.404 billion the year before. The company’s gross profit surged to Rs4.28 billion from Rs3.77 billion in the previous year, registering a 13.5% increase year-over-year.

Profit-before-tax for the year jumped up to Rs4.33 billion, 14% higher than the previous year’s Rs3.80 billion. Resultantly, the EPS increased to Rs38.93 in 2019 due to an upsurge in after-tax profit, which rose to Rs3.15 billion from Rs2.68 billion.

In 2020, sales plunged by 26.2% to Rs16.60 billion from Rs22.499 billion in 2019. This impacted the company’s gross profit, which turned into a decline of 40.4% to Rs2.55 billion from Rs4.28 billion a year earlier.

Net profitability also decreased to Rs1.867 billion from Rs3.154 billion in 2019. This decline in profit caused a fall in the earnings per share to Rs23.04 from Rs38.93 a year before.

The year 2021, however, saw the company’s fortunes change for the better, with the revenue collection expanded to Rs27.317 billion, up 64.6%, from the previous year’s Rs16.60 billion. The gross margins emerged from Rs2.55 billion to Rs4.669 billion.

Similarly, the company’s profit-after-tax jumped to Rs3.48 billion higher than the previous year’s Rs1.867 billion. The EPS for the year shot up to Rs42.97 from Rs23.04 the previous year.

Credit: Independent News Pakistan-WealthPk