Image Pakistan Limited (IMAGE): Announced EPS of Rs0.49 (-27% YoY% & 64% QoQ) in 2QFY24 and 75% Right Shares – By Topline Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Image Pakistan (IMAGE) announced its 2QFY24 result today, wherein they posted a consolidated earnings of Rs65mn (EPS of Rs0.49) down 27% YoY and 64% QoQ. This takes 1HFY24 earnings to Rs88mn (EPS of Rs1.87), up 43% YoY.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">In 2QFY24, decline in YoY and QoQ earnings is primarily due to lower gross margins and higher effective tax rate.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Gross margins declined to 41% in 2QFY24, compared to 43% in 2QFY23 and 47% in 1QFY24. The decline in gross margins is primarily due to seasonal effects, where the company had to offer discounts on Christmas and Black Friday to ...