Lahore: Kohinoor Energy Limited has declared a year-end financial stance with steady profitability but will not distribute dividends for the fiscal year ended June 30, 2024. The announcement followed a Board of Directors meeting in Lahore on September 25, 2024, where the annual audited financial statements were approved.

The company posted a revenue of 10.01 billion Rupees for the year, down from 12.58 billion Rupees in the previous year. The cost of sales saw a decrease to 7.71 billion Rupees from 10.19 billion Rupees, leading to a gross profit of 2.30 billion Rupees, slightly less than the 2.39 billion Rupees recorded in 2023.

According to information available from the Pakistan Stock Exchange (PSX), administration expenses increased to 385.77 million Rupees from 331.26 million Rupees the previous year. Despite these higher costs, Kohinoor Energy's operating profit stood at 1.92 billion Rupees, down from 2.06 billion Rupees in 2023. The company achieved a profit before taxation of 1.60 billion Rupees, showing a modest increase over last year's 1.57 billion Rupees.

Earnings per share edged higher, from 9.29 Rupees in the prior year to 9.44 Rupees, indicating a resilient per-share profitability despite broader financial pressures.

No cash dividends or bonus shares will be issued this year, consistent with the nil declarations across other price-sensitive measures. The financial agenda and results will be further discussed at the Annual General Meeting scheduled for October 24, 2024, at the Islamabad Club. Furthermore, the company's share transfer books will be closed from October 18, 2024, to October 24, 2024.