The Board of Directors of ICI Pakistan Limited announced the company's financial results for the quarter ended September 30, 2018. On a consolidated basis, including the results of the company's subsidiaries, ICI Pakistan PowerGen Limited, Cirin Pharmaceuticals (Private) Limited and NutriCo Morinaga (Private) Limited, net turnover for the quarter at Rs 13,299 million is 17 percent higher compared to the same period last year due to higher revenues mainly in the polyester, and soda ash businesses, which increased by 27 percent and, 43 percent, respectively. This was partially offset by lower revenues in the life sciences and chemicals & agri sciences businesses.
The operating result for the quarter at Rs 1,032 million is 1 percent lower in comparison to the same period last year due to decline in the life sciences and chemicals & agri sciences businesses. The performance of these businesses was compensated by strong performances in the polyester and soda ash businesses by 993 percent, and 25 percent, respectively.
Profit after Tax (PAT) for the quarter was Rs 546 million, with consolidated PAT being 34 percent lower than the same period last year mainly due to higher finance cost and higher taxation expenses. On an unconsolidated basis, PAT for the quarter at Rs 658 million is 11 percent lower than the same period last year. Earnings per share (EPS) for the quarter at Rs 5.83 is 34 percent lower than the same period last year. Company's EPS on unconsolidated basis for the quarter is Rs 7.12 which is 11 percent lower compared to the same period last year.-PR
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