Karachi, The Board of Directors of Lalpir Power Limited convened on August 9, 2023, in Lahore, to discuss the financial performance of the company for the half-year ended June 30, 2023. In the meeting, the Board recommended a noteworthy 150% Interim Cash Dividend, equivalent to Rs. 15.00 (Rupees Fifteen Only) per share for the mentioned period.

The financial results showcased the company's resilience and growth amidst challenging economic conditions. The revenue from contracts with customers for the half-year period amounted to Rs. 8,490,773,000 compared to Rs. 21,941,875,000 during the same period in 2022. The cost of sales stood at Rs. 5,945,024,000, reflecting a growth in operational efficiency compared to Rs. 20,399,662,000 in the corresponding period last year. This led to a gross profit of Rs. 2,545,749,000, a significant improvement from the previous year's Rs. 1,542,213,000.

Administrative expenses for the period were recorded at Rs. 92,604,000, slightly higher than the Rs. 85,976,000 reported in 2022. Other expenses amounted to Rs. 2,454,000, while other income stood at Rs. 7,709,000, contributing positively to the company's overall financial performance.

Profit from operations witnessed a substantial rise, reaching Rs. 2,458,400,000 compared to Rs. 1,565,409,000 in the first half of 2022. The finance cost for the period was reported at Rs. 262,215,000, higher than the Rs. 128,126,000 recorded in the previous year. Nonetheless, the company's profit before taxation demonstrated notable growth, reaching Rs. 2,196,185,000, compared to Rs. 1,437,283,000 in the same period last year.

The company's earnings per share (EPS) also displayed robust performance. The EPS for the half-year ended June 30, 2023, stood at Rs. 5.78, an impressive surge from the Rs. 3.78 reported in the corresponding period in 2022.

Lalpir Power Limited's positive financial results reflect its dedication to sustaining growth and value for its shareholders. The company's commitment to shareholder satisfaction is further evident in the announcement of a 150% Interim Cash Dividend for the half-year ended June 30, 2023. The Share Transfer Books of the Company will remain closed from August 23, 2023, to August 24, 2023 (both days inclusive).