Karachi: In a recent board meeting held on September 25, 2024, AI-Khair Gadoon Limited (AKGL) announced its financial outcomes for the fiscal year ending June 30, 2024, highlighting a series of nil distributions to shareholders. According to information available from the Pakistan Stock Exchange (PSX), the board declared no final cash dividend and recommended no issuance of bonus or right shares for the year.

The company posted a net sales revenue of PKR 1,278.49 million for 2024, up from PKR 1,063.50 million in the previous year. Despite the increased sales, the cost of sales also rose to PKR 1,112.66 million, leaving a gross profit of PKR 165.82 million. Administrative and distribution expenses totaled PKR 114.09 million, resulting in an operating profit of PKR 51.73 million, slightly higher than the PKR 49.82 million reported in 2023.

Finance costs were notably reduced this year to PKR 16.48 million from PKR 24.06 million the previous year, contributing to a pre-tax profit of PKR 40.19 million. After accounting for a tax expense of PKR 12.94 million, the net profit for the year stood at PKR 27.25 million, more than double the previous year’s PKR 13.02 million.

No adjustments were made for any additional entitlements, and no further financial incentives were extended to shareholders. The Annual General Meeting is scheduled for October 25, 2024, in Khyber Pakhtoonkhawa, with the share transfer books closing from October 18 to 25, 2024.