Thal Industries Announces Mixed Financial Results for Half-Year and Second Quarter of 2024

Lahore, Thal Industries Corporation has reported a mixed set of financial results for the half-year and second quarter ended March 31, 2024.

The board of directors revealed the company’s latest financial figures during a meeting held on May 24, 2024, in Lahore. For the six-month period ended March 31, 2024, the company recorded sales of Rs. 12,274,494,367, a decrease from Rs. 14,583,255,760 reported in the same period the previous year. The cost of sales also saw a decline, registering at Rs. 8,968,313,530, down from Rs. 11,176,098,867.

According to information available from the Pakistan Stock Exchange (PSX), the company’s gross profit for the six months was Rs. 3,306,180,837, slightly below the Rs. 3,407,156,893 reported in the prior year. Operating expenses totaled Rs. 690,099,073, while distribution and selling expenses stood at Rs. 176,379,288. Administrative expenses were noted at Rs. 513,719,785.

For the three-month period ended March 31, 2024, Thal Industries reported sales of Rs. 7,069,689,620 compared to Rs. 9,282,217,576 for the same period in 2023. The cost of sales was Rs. 5,158,424,768, with a gross profit of Rs. 1,911,264,852, down from Rs. 2,565,198,957 in the previous year.

Operating profit for the quarter was Rs. 1,710,934,293, compared to Rs. 2,308,644,870 in the prior year’s corresponding quarter. The company’s profit before taxation stood at Rs. 1,324,421,023, with profit after taxation reaching Rs. 617,823,991, a decrease from Rs. 1,295,710,578 in 2023.

Thal Industries also reported other comprehensive income, net of tax, including items that will not be reclassified to profit or loss, totaling Rs. 1,324,421,023 for the half-year period.

Earnings per share for the half-year were reported at Rs. 88.16, down from Rs. 109.38 in the previous year, while for the quarter, earnings per share were Rs. 41.12, compared to Rs. 86.25 in 2023.