Lahore: Zephyr Textiles Limited has announced a final cash dividend for the fiscal year ended June 30, 2024, following a meeting of its Board of Directors. The company disclosed a cash dividend of Rs. 4 per share, in addition to the final dividend already paid at Rs. 1 per share. This decision was part of the financial results released during the meeting held on September 25, 2024, at the company’s headquarters in Lahore.

According to information available from the Pakistan Stock Exchange (PSX), the company’s financial results for FY 2024 show a notable increase in sales, reaching Rs. 8.39 billion compared to Rs. 8.10 billion the previous year. The cost of sales also increased marginally to Rs. 7.90 billion, resulting in a gross profit of Rs. 497 million, a decrease from the Rs. 681 million reported in FY 2023.

Operating expenses accounted for Rs. 619 million, a reduction from the previous year’s Rs. 555 million. The company reported a profit before taxation of Rs. 99 million, down from Rs. 307 million in FY 2023. After taxation adjustments, the net profit stood at Rs. 44 million, translating to an earnings per share (EPS) of Rs. 0.67.

Zephyr Textiles Limited also highlighted changes in their financial strategy, including rights shares issuance and bonuses. The Board has recommended issuing 8% bonus shares and has proposed a premium of Rs. 4 per share for every NI share held, subject to shareholder approval.

The company is set to hold its Annual General Meeting (AGM) on October 28, 2024, where shareholders will have the opportunity to discuss the year’s financial results and the proposed cash dividends. Shareholders are encouraged to register by October 18, 2024, to participate in the AGM. Zephyr Textiles also plans to broadcast the annual report through PUCARS at least 21 days before the AGM to ensure all stakeholders are well-informed.