April 30, 2025
Image Plus Consultants Limited (IPCL)
Audited Financials for the Twelve Months Ended February 28, 2025:
Image Plus Consultants Limited (IPCL) reported a 10% decrease in revenue for the twelve months ended February 28, 2025, totaling $1.08 billion compared to $1.20 billion in the corresponding period last year. Revenue for the fourth quarter decreased by 25%, closing at $245.30 million compared to $326.30 million for the comparable quarter of 2024.
The cost of sales amounted to $368.58 million (2024: $430.87 million), representing a 14% decrease year over year. Consequently, gross profit decreased by 7% to $712.27 million compared to $764.78 million for the twelve months ended February 28, 2024. The company booked a gross profit of $164.47 million for the fourth quarter versus $207.76 million reported for the similar quarter of 2024.
Administrative expenses increased by 10% to $524.00 million (2024: $477.58 million), while depreciation and amortization increased by 69% from $64.11 million in 2024 to $108.43 million in the period under review.
Operating profit for the twelve months ended February 28, 2025, amounted to $79.84 million, a 64% decrease relative to $222.40 million reported in 2024. Operating profit for the fourth quarter amounted to $12.21 million (2024: $65.50 million). Finance costs totaled $38.68 million, a 173% increase from the corresponding period last year (2024: $14.16 million).
Profit before tax for the twelve months ended February 28, 2025, amounted to $43.93 million, an 80% decrease relative to $224.33 million reported in 2024. Profit before tax for the fourth quarter amounted to $2.37 million (2024: $60.14 million).
Net profit for the twelve months amounted to $43.93 million, a 79% decrease from the $211.93 million reported in 2024. For the fourth quarter, net profit was $2.37 million (2024: $47.74 million).
Consequently, earnings per share for the twelve months amounted to $0.04 (2024: EPS: $0.17), while earnings per share for the quarter totaled $0.002 (2024: EPS: $0.04). The number of shares used in these calculations was 1,239,449,680.
Notably, IPCL’s stock price closed the trading period on April 29, 2025, at $1.05 with a corresponding P/E ratio of 29.62x.
Balance Sheet Highlights:
The company’s assets totaled $1.60 billion (2024: $1.61 billion). This decrease was attributable to property, plant, and equipment, which equated to $1.15 billion (2024: $1.21 billion).
Shareholders’ equity was $1.082 billion (2024: $1.075 billion), representing a book value per share of $0.87 (2024: $0.87).
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