Lahore: Ghani Chemical Industries Limited announced its financial results for the fiscal year ended June 30, 2024, revealing a total comprehensive income of PKR 1.02 billion, marked by robust sales and operational performance. The company disclosed these figures during the Board of Directors meeting held today.

The year concluded with net sales reaching PKR 6.39 billion after accounting for a sales tax deduction of PKR 957.47 million, representing a significant increase from the previous year’s PKR 5.11 billion in sales. Despite the increased revenue, the company declared no dividends, bonus shares, or rights shares for the period, maintaining a conservative stance on shareholder distributions.

According to information available from the Pakistan Stock Exchange (PSX), the cost of sales for the year was recorded at PKR 3.82 billion, yielding a gross profit of PKR 1.61 billion, up from last year’s PKR 1.46 billion. However, Ghani Chemical managed to reduce its distribution and administrative expenses, which contributed to an operational profit of PKR 1.67 billion, compared to PKR 1.31 billion in the previous year.

Other financial highlights include a substantial other income of PKR 551.11 million, a figure that significantly bolstered the company’s bottom line. After covering finance costs and taxation, the profit after taxation stood at PKR 785.81 million, compared to PKR 507.89 million reported in 2023.

The company also noted a revaluation surplus on freehold and leasehold lands, contributing an additional PKR 237.81 million to the comprehensive income, which culminated in an earnings per share of PKR 1.58, up from PKR 1.06 last year.

The Annual General Meeting is scheduled for October 26, 2024, and the Share Transfer Books will be closed from October 19 to October 26, 2024. Ghani Chemical’s annual report will be available through PUCARS at least 21 days prior to the AGM.