Karachi, Nishat Power Limited, a prominent player in the energy sector, announced robust financial results for the fiscal year ended June 30, 2023. The company's Board of Directors convened on August 21, 2023, and recommended several significant developments that are set to impact shareholders.

The financial statement for the year unveiled a commendable performance by Nishat Power Limited. The revenue from the contract with customers was reported at Rs. 23,068,964 thousand, while the cost of sales amounted to Rs. 18,495,640 thousand. This led to a gross profit of Rs. 4,573,324 thousand. Administrative expenses and other expenses were recorded at Rs. 564,254 thousand and Rs. 407,513 thousand respectively. The company's other income was reported to be Rs. 178,452 thousand.

The profit from operations showcased a remarkable growth, reaching Rs. 4,187,522 thousand, which was a significant surge from the previous year's figure of Rs. 3,558,783 thousand. The profit before taxation stood at Rs. 4,099,088 thousand, while after accounting for taxation, the net profit after taxation was Rs. 4,091,029 thousand. This showcased an earnings-per-share (EPS) of Rs. 11.55, a substantial increase from the previous year's EPS of Rs. 9.38.

In light of the commendable financial performance, the Board of Directors declared a final cash dividend of 30% (Rs. 3/- per share) for the year ended June 30, 2023. This dividend is in addition to the interim dividends of 40% that have already been distributed. The company, however, did not announce any bonus shares, right shares, or other entitlements.

The eagerly awaited Annual General Meeting (AGM) of Nishat Power Limited is scheduled for October 26, 2023, at The Nishat Hotel in Lahore. The AGM will provide an opportunity for shareholders to gather and discuss the company's achievements, plans, and future prospects. Shareholders are advised that the Ordinary Shares Transfer Books of the company will be closed from October 19, 2023, to October 26, 2023, for the entitlement of the 30% final cash dividend and participation in the AGM.

The company has also informed that the Annual Report for the fiscal year ended June 30, 2023, will be distributed to shareholders through PUCARS at least 21 days ahead of the AGM. This move aims to provide shareholders with ample time to review the report before the meeting.

Nishat Power Limited's commendable financial performance and the declaration of a substantial final cash dividend further solidify its position as a frontrunner in the energy sector, eliciting positive responses from its shareholders and the industry at large.