Lahore: Ghani Global Glass Limited announced its financial results for the fiscal year ending June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the company hosted its board meeting in Lahore on September 27, 2024, where it declared no dividends or corporate actions, reflecting a conservative approach amid ongoing fiscal assessments.

For the year ended on June 30, the company posted a net profit of 144.82 million Rupees, a 42.20% increase from the previous year's 101.88 million Rupees. This growth is attributed to a notable rise in operating profits and a substantial gain in other income, totaling 175.77 million Rupees, up from 5.19 million Rupees in 2023.

Ghani Global Glass Limited reported an increase in gross revenue from 2.44 billion Rupees in 2023 to 2.89 billion Rupees in 2024. After accounting for sales tax and trade discounts, net sales stood at 2.44 billion Rupees. Despite a rise in finance costs to 406.71 million Rupees, up from 266.08 million Rupees the previous year, the firm managed to secure a profit.

Operating expenses, encompassing administrative and selling costs, totaled 122.78 million Rupees, showing a slight reduction from 132.61 million Rupees in 2023, aiding the profitability metrics.

The company also confirmed that its share transfer books would be closed from October 19 to October 26, 2024, in preparation for the Annual General Meeting scheduled for October 26, 2024. This meeting will be held at the registered office in Lahore, where attendees will review the year’s performance and strategize for the upcoming fiscal period.

Ghani Global Glass Limited will also ensure the transmission of its annual report through PUCARS at least 21 days prior to the AGM, maintaining compliance with regulatory requirements and ensuring shareholder engagement.