Lahore: Ghani Glass Limited has declared a 10% cash dividend for its shareholders following robust financial results for the fiscal year ended June 30, 2024. The announcement was made in a recent board meeting held in Lahore.

The company reported a significant increase in net revenue, reaching PKR 47.79 billion, up from PKR 41.04 billion the previous year, marking an increase of 16.43%. This rise in revenue led to a gross profit of PKR 13.13 billion compared to PKR 12.64 billion in 2023. The profit from operations surged by 27.28%, amounting to PKR 5.78 billion, up from PKR 4.55 billion last year.

According to information available from the Pakistan Stock Exchange (PSX), Ghani Glass's financial health showed remarkable improvement, with net income after taxes totaling PKR 6.75 billion. This represents a decrease from the previous year's PKR 8.10 billion, attributed to higher financial and other expenses, which include a notable PKR 611.31 million in other expenses and an increase in finance costs to PKR 7.40 billion.

The earnings per share (EPS) also reflected a positive outcome at PKR 6.75, albeit lower than the previous year's PKR 8.10. The board has scheduled the Annual General Meeting (AGM) for October 28, 2024, in Lahore, where shareholders are expected to approve these results.

Additionally, the company's share transfer books will remain closed from October 22, 2024, until the AGM day, to facilitate the processing of the dividend. The annual report will be transmitted to shareholders at least 21 days prior to the AGM to ensure compliance and transparency.