Tri-Pack Films Limited Reports Strong Financial Performance in H1 2023: Interim Results Show Robust Growth

Karachi, Tri-Pack Films Limited, a prominent player in the packaging industry, has unveiled its condensed interim financial statements (unaudited) for the half-year and quarter ended June 30, 2023. The Board of Directors convened in a meeting at the company’s Karachi office and via Zoom to approve the financial results.

During the first half of 2023, the company demonstrated commendable financial performance, reinforcing its position in the market. The revenue from contracts with customers amounted to Rs. 11,526,642, showing a marginal decrease from the corresponding period in 2022, which recorded Rs. 11,881,056. Despite this, the company maintained its solid standing within the industry.

Tri-Pack Films Limited’s gross profit for the half-year ended June 30, 2023, stood at Rs. 2,442,995, marking a substantial increase from Rs. 1,744,389 reported in the same period last year. This surge can be attributed to effective cost management strategies and operational efficiencies.

While the distribution costs rose to Rs. 408,192, as compared to Rs. 313,134 in H1 2022, the company remained committed to containing its administrative expenses, which were reported at Rs. 328,477 for the half-year. The resulting operating profit stood at an impressive Rs. 1,706,326, a significant leap from Rs. 1,216,799 in the previous year.

Tri-Pack Films Limited showcased a robust financial outlook as other income soared to Rs. 128,510 from Rs. 106,436. However, the company experienced a slight increase in other expenses, reporting Rs. 106,400 compared to Rs. 54,370 in H1 2022.

The finance cost, though, declined from Rs. 534,888 in H1 2022 to Rs. 457,775 this year, indicating a prudent management of the financial structure. Overall, the company reported a profit before income tax of Rs. 1,270,661, showcasing an impressive growth trajectory.

Income tax expenses stood at Rs. 578,837, reflecting the company’s commitment to its financial obligations. Consequently, Tri-Pack Films Limited reported a profit for the period of Rs. 691,824, a remarkable increase from the Rs. 402,346 recorded in the same period last year.

Furthermore, the company also shared information about its comprehensive income for the period, demonstrating its dedication to transparent financial reporting.

Tri-Pack Films Limited’s earnings per share (EPS) for the half-year and quarter ended June 30, 2023, were reported at Rs. 17.83, showing significant growth from Rs. 10.37 in the previous year.

These robust financial results underscore Tri-Pack Films Limited’s resilience and strategic focus in navigating a dynamic market environment. The company’s ability to maintain positive momentum in its financial performance positions it well for continued growth and sustained value creation for its stakeholders.

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