Qudsia Bano

Ismail Industries Limited’s revenue from sales increased by 49% to Rs46.8 billion in the first six months of the ongoing financial year 2022-23 (6MFY23) compared to Rs31.4 billion in the corresponding period of the previous fiscal. Similarly, the gross profit of the company increased by 77% to Rs8.5 billion in 6MFY23 from Rs4.8 billion recorded in 6MFY22. The company posted a net profit of Rs2.8 billion in the first six months of FY23, up 128% from the profit of Rs1.2 billion in the corresponding period of the previous year, reports WealthPK.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales rose to Rs65.22 billion from Rs44.9 billion in FY21, posting an increase of 45% year-on-year. The gross profit for FY22 stood at Rs9.8 billion, up 37% from Rs7.2 billion in FY21.The profit-before-tax was Rs2.2 billion in FY21, which increased to Rs3.4 billion in FY22.Compared to net profit of Rs1.8 billion for FY21, the net profit increased to Rs2.6 billion in FY22, posting a massive 44% growth on year-on-year basis.

In FY21, the earnings per share of the company stood at Rs26.77, which showed remarkable growth and increased to Rs38.44 in FY22.

About the company

Ismail Industries Limited was incorporated in Pakistan as a private limited company on June 21, 1988. On November 1, 1989, the company was converted into a public limited company. The principal activities of the company are manufacturing and trading of sugar confectionery items, biscuits, potato chips, cast polypropylene and biaxially-oriented polyethylene terephthalate film under the brands of Candyland, Bisconni, Snackcity and Astro Films.

Credit: Independent News Pakistan-WealthPk