Karachi: Dadabhoy Cement Industries Limited has announced its financial results for the fiscal year ending June 30, 2024, noting an increase in profit after taxation. The company, headquartered in Karachi, reported a net profit of PKR 4.87 million, up from PKR 3.61 million in the previous year, marking a continued upward trajectory in its financial performance.
The board meeting, which took place on October 7, 2024, underlined several key financial figures. The report highlighted that the company incurred PKR 17.71 million in administrative expenses and PKR 0.53 million in other charges. However, these were offset by other income totaling PKR 23.41 million, leading to a profit before taxation of PKR 5.17 million.
According to information available from the Pakistan Stock Exchange (PSX), taxation for the year was relatively low at PKR 0.29 million, contributing to the net profit. The company did not declare any dividends, bonus certificates, or rights certificates this fiscal year, maintaining a conservative approach towards shareholder returns.
Additionally, the annual report will be distributed to shareholders at least 21 days before the annual general meeting scheduled for October 28, 2024. The meeting will take place at the company’s registered office in Karachi.
The financial statements for Dadabhoy Cement also noted an earnings per share increase to PKR 0.05, up from PKR 0.04 in the previous year, reflecting a modest yet positive growth in profitability.
The share transfer books of Dadabhoy Cement will remain closed from October 21, 2024, to October 28, 2024, to facilitate the upcoming general meeting.