Karachi: International Packaging Films Limited (IPFL), a notable entity in the materials sector, has released its financial results for the half-year period ending December 31, 2024, revealing a marked decline in profits. The company's Board of Directors, in a meeting held on February 25, 2025, at the registered office in Karachi, announced that no cash dividends, bonus shares, or right shares would be distributed to shareholders for this period.

The financial statements disclose that the company's revenue from contracts with customers for the half year was recorded at 6.12 billion rupees, a significant decrease from the 8.22 billion rupees reported in the same period of the previous year. The cost of sales also decreased, amounting to 5.29 billion rupees compared to 6.16 billion rupees in the previous year's corresponding period, resulting in a gross profit of 835.18 million rupees, down from 2.06 billion rupees.

Selling and distribution expenses were reported at 141.30 million rupees, while administrative expenses amounted to 183.33 million rupees. The company also recorded a reversal of loss allowance on trade debts amounting to 18.24 million rupees. Other operating income was reported at 12.56 million rupees, contributing to an operating profit of 793.02 million rupees, a decrease from the 1.66 billion rupees in the previous year.

Finance costs during the period amounted to 738.18 million rupees, leading to a profit before levies and income tax of 54.85 million rupees, a steep decline from 954.76 million rupees in the prior year. According to information available from the Pakistan Stock Exchange (PSX), the income tax expense for the current period was 100.09 million rupees, accompanied by a prior tax adjustment of 57.48 million rupees and deferred tax income of 42.57 million rupees, resulting in a post-tax profit of 54.81 million rupees for the half year, compared to 582.26 million rupees in the previous year.

Earnings per share for the half year were reported at 0.08 rupees, a decline from 0.92 rupees in the prior year. The Board of Directors noted there were no other entitlements, corporate actions, or price-sensitive information to report for the period.