The Board of Directors of ICI Pakistan Limited announced the financial results for Q3 2011. The company posted net sales income of Rs 10.03 billion and Rs 30.5 billion for the quarter and nine months ended September 30, 2011 respectively, which was 18 percent and 19 percent higher than the same period last year.
Q3 profit after tax at Rs 571 million was dragged down by extended periods of non-availability of gas to the company's Soda Ash and Polyester plants, located in the North and was 16 percent lower than the same period last year. Chemicals and Life Sciences businesses of ICI Pakistan Limited during the nine months ended 30 September 2011 have posted significant growth in their bottom line while the paints business has shown significant improvement with a manifold increase in operating results for Q3 2011 as compared to same period last year. The company incurred an incremental cost of Rs 140 million (after tax PKR 91 million) for Q3 and Rs 650 million (after tax Rs 423 million) for nine months on alternate fuel.-PR
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