Ismail Industries Limited (ISIL), a company that makes sugar confectionery items, reported a profit of Rs5.89 billion in the fiscal year 2023, which ended on June 30. This is a 157% increase compared to the previous year. The company’s board of directors met on September 8 to review the financial and operational performance and announced a final cash dividend of Rs2 per share, in addition to an interim cash dividend of Rs10 per share that had already been paid. The earnings per share for the year were recorded at Rs90.42, compared to Rs35.46 in the previous year. The company’s net sales increased by more than 60%, reaching Rs89.64 billion. The gross profit also increased by 86%, totaling Rs18.56 billion. On a consolidated basis, the company’s operating profit was Rs9.81 billion, a 146% increase. The company’s other income improved by 161% in fiscal year 2023. However, the cost of finance increased by over 205%, which could be attributed to the rise in interest rates. Ismail Industries Limited was established in 1988 and manufactures and trades various confectionery items, biscuits, potato chips, and films under different brand names.
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