ICI's profits fall on lower margin, higher energy cost

KARACHI: ICI Pakistan Ltd has posted a lower profit after tax of Rs 193.394 million for the 1st quarter ending March 31, 2012 compared with Rs 624.1 million in the same quarter last year.

According to ICI here Friday, lower volumes, reduction in polyester staple fiber (PSF) margins and higher energy costs result have decreased operating result by 71%.

The earnings per share for the quarter also dropped by 69 % to Rs 1.39 compared to the same quarter last year.

The profit before tax has also declined to Rs 296.617 million as against Rs 948.982 million in the corresponding period last year.