Interloop profit rises 53pc to Rs4.3bn in 1QFY27
KARACHI: Interloop Limited (ILP) posted a 53 percent year-on-year increase in profit to Rs4.3 billion in the first quarter of FY27, compared with Rs2.8 billion in the same period last year, supported by higher export sales, increased other income and a lower effective tax rate, according to a research report. The company reported earnings per share (EPS) of Rs3.05 for 1QFY27, up from Rs2.00 in…
Interloop Limited (ILP) reported a substantial 53 percent rise in profit for the first quarter of FY27, reaching Rs4.3 billion, up from Rs2.8 billion in the same quarter last year. The growth was driven by higher export sales, increased other income, and a reduced effective tax rate, according to a research report. Earnings per share (EPS) improved to Rs3.05 from Rs2.00 in the previous year's quarter, while quarterly profit saw a 12 percent increase from Rs3.8 billion.
Revenue grew 14 percent year-on-year to Rs49.7 billion, compared to Rs43.8 billion in the prior year. However, the gross margin decreased to 22.8 percent from 23.3 percent due to lower prices in non-yarn segments and the rupee's appreciation. Operating expenses rose 15 percent to Rs4.7 billion, mainly because of increased distribution costs.
Other income doubled to Rs1.7 billion, partly attributed to gains on derivative financial instruments. Finance costs fell by 8 percent to Rs1.6 billion, despite higher borrowings under the Export Finance Scheme (EFS). The effective tax rate declined to 29 percent, down from 38 percent last year, resulting from the super tax removal.
Revenue decreased 11 percent from Rs55.6 billion, while gross profit dropped 1 percent to Rs11.3 billion compared with the previous quarter.
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