After tax profit of IDMCL declines

RECORDER REPORT

KARACHI: The after tax profit of Indus Dyeing and Manufacturing Company Limited (IDMCL) has declined to Rs 1.571 billion in the year ended June 30, 2012 (FY12) as compared to Rs 2.131 billion earned in the corresponding period in FY11.

The company’s earning per share reduced to Rs 86.95 in the period under review against Rs 117.92 in the same period last year.

The board of directors of the company in its meeting held here on October 4, 2012 recommended a final cash dividend at Rs 20 per share i.e. 200 percent, together with the interim dividend of 150 percent or Rs 15 per share already paid, the total dividend for 2011-12 will thus amount to 350 percent or Rs 35 per share.

According to the financial results sent to Karachi Stock Exchange, the company’s sales declined to Rs 15,385 billion in FY12 against Rs 18.253 billion in FY11 while cost of goods sold reduced to Rs 13.132 billion against Rs 15.355 billion.

The company’s profit before taxation decreased to Rs 1.789 billion in FY12 against Rs 2.275 billion recorded in FY11.