Thal Industries earns profit of Rs409.97 million in second quarter

KARACHI: The Thal Industries Corporation has announced a net profit of Rs409.97 million for the second quarter ended June 30, 2021, which is 30.5 per cent higher than the profit of Rs314.11 million recorded in the corresponding quarter last year, a bourse filing said on Friday.

The earnings per share (EPS) for the quarter under review stood at Rs27.29 as against the EPS of Rs20.91 last year, it added.

The sales revenues during the quarter stood at Rs7.7 billion, up 46.6 per cent from the revenues of Rs5.25 recorded in the same period last year.

The company’s finance cost also declined to Rs157.97 million this quarter, compared with Rs269.27 million last year, while other income increased 170.20 per cent to Rs24.4 million as against Rs9.03 million in the corresponding period last year, it said.

For the half-year ended June 30, 2021, Thal Engineering posted a net profit of Rs993.94 million, translating into an EPS of Rs66.16 as against the net profit of Rs772.50 million and an EPS of Rs51.42 in the corresponding period last year.

The Thal Industries Corporation Limited produces several grades of quality sugar and is involved in the co-generation to export surplus electricity to the national grid.

The company has two sugar manufacturing units, Unit-1: Layyah Sugar Mills, Layyah with a crushing capacity of 13,000TCD and Unit-2, Safina Sugar Mills, Lalian, Chiniot with a crushing capacity of 8,000TCD.

Thal’s associated companies included Al Moiz Industries, Naubahar Bottling, Moiz Textile Mills and Baba Farid Sugar Mills.