IBL HealthCare : Transmission of Quarterly Report

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