Quarterly Report
March 2023
table of CONTENTS
02 Company Information
03 Directors' Review Report
04 Directors' Review Report (Urdu)
05 Condensed Interim Statement of Financial Position
06 Condensed Interim Statement of Profit & Loss
07 Condensed Interim Statement of Changes in Equity
08 Condensed Interim Statement of Cash Flows
09 Notes to the Condensed Interim Financial Statements
Company INFORMATION
BOARD OF DIRECTORS | ||
Ms. Ameena Saiyid | Chairperson | |
Mr. Munis Abdullah | Director | |
Mr. S. Nadeem Ahmed | Director | |
Mr. Mufti Zia ul Islam | Chief Executive Officer | |
Mr. Zubair Palwala | Director | |
Mr. Mobeen Alam | Director | |
Mr. Shuja Malik | Director | |
AUDIT COMMITTEE | ||
Mr. Shuja Malik | Chairman | |
Mr. Zubair Palwala | Member | |
Ms. Ameena Saiyid | Member | |
HUMAN RESOURCE & | BANKERS | |
REMUNERATION COMMITTEE | Chairman | Habib Bank Limited |
Mr. Shuja Malik | Standard Chartered Bank | |
Mr. S. Nadeem Ahmed | Member | (Pakistan) Limited |
Ms. Ameena Saiyid | Member | National Bank of Pakistan Summit |
CHIEF FINANCIAL OFFICER | Bank Limited | |
Soneri Bank Limited | ||
Mr. Hammad Bin Kafeel | Habib Metropolitan Bank Limited | |
Al-Baraka Bank (Pakistan) Limited | ||
COMPANY SECRETARY | Meezan Bank Limited | |
Mr. Shariq Zafar | Dubai Islamic Bank | |
Bank Alfalah Limited | ||
AUDITORS | REGISTERED OFFICE | |
A.F. Ferguson & Co., Chartered | ||
Accountants | 2nd Floor, One IBL Centre, Block | |
INTERNAL AUDITORS | 7&8, DMCHS | |
Tipu Sultan Road, | ||
Grant Thornton Anjum Rahman | Off: Shahrah-e-Faisal, Karachi | |
LEGAL ADVISOR | SHARE REGISTRAR | |
Mohsin Tayabaly & Co. | Central Depository Company of | |
Pakistan Limited | ||
CDC House, 99-B,Block-B, SMCHS | ||
Shahrah-e-Faisal, Karachi - 74400 |
DIRECTORS' REPORT
The Board of Directors of IBL HealthCare Limited (IBLHL) takes pleasure to present before the shareholders, performance review together with the condensed interim financial statements of the Company for the nine months ended March 31, 2023.
The Directors' report is prepared under section 227 of the Companies Act, 2017, chapter XII clause 34 of Listed Companies (Code of Corporate Governance) Regulations, 2019.
SUMMARY OF FINANCIAL PERFORMANCE
March 31, | ||
2023 | 2022 | |
(Rupees in Thousand) | ||
Revenue | 3,010,903 | 2,673,458 |
Gross profit | 990,746 | 885,851 |
Gross profit as a percentage of revenue | 33% | 33% |
Profit before taxation | 397,511 | 368,598 |
Profit after taxation | 268,832 | 253,746 |
PRINCIPAL ACTIVITES & OVERVIEW OF FINANCIAL PERFORMANCE
The principal activities of the Company include marketing, selling and distribution of healthcare & consumer products.
The revenue for the current period remained at Rs. 3.01 billion as compared to Rs. 2.67 billion for the same period last year i-e. an increase of Rs. 337.4 million (13% growth) despite uncertain socio-economic situation in the country. This increase in revenue is mainly due to awarding of tenders for medical disposable division. The gross margins remain consistent with prior year despite significant devaluation of currency. However, the impact of devaluation resulted in exchange loss in current period. Management emphasis to control expenses enabled the Company to achieve after tax profit of Rs. 268.83 million as compared to Rs. 253.75 million same period last year.
FUTURE OUTLOOK
The Company is continuously striving to maximize its profitability and growth. The Company is confident that it can generate increased value for shareholders as well as deliver better products and services to our customers. In accomplishing this, we would like to appreciate the enormous cooperation and support of our sales force, without which Company will not be able to achieve these results.
We also take this opportunity to thank our employees for their continuing contribution in the achievement of Company's results.
Chief Executive Officer | Director |
April 27, 2023
Karachi
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IBL HealthCare Ltd. published this content on 27 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 08:47:05 UTC.