Lahore: Reliance Cotton Spinning Mills Limited (RCSML) has witnessed a remarkable financial performance in the year ended June 30, 2024, with significant growth in sales and profitability. This year, the company achieved a gross revenue of Rs. 14.65 billion, marking a substantial increase of 32.6% compared to the previous year's Rs. 11.05 billion.

According to information available from the Pakistan Stock Exchange (PSX), the gross profit margin improved slightly to 16.2% from 15.4% in the previous year. This improvement reflects enhanced operational efficiencies and a strategic focus on lucrative market segments. The company's profit after taxation also saw a robust increase, amounting to Rs. 1.19 billion, up from Rs. 839.10 million in the preceding year, an increase of approximately 41.2%.

The earnings per share (EPS) have surged to Rs. 115.10, up from Rs. 81.50, underlining the company's enhanced value creation for its shareholders. In light of these results, the Board of Directors has recommended a final cash dividend of Rs. 4.00 per share, maintaining the dividend payout ratio in line with the previous year.

Reliance Cotton Spinning Mills is part of the Sapphire Group, known for its diversified interests in textile and dairy sectors among others. The company's strategic investments and efficient capital management have been pivotal in navigating the fluctuating market conditions and securing sustainable growth.

The financial statements for the year, which have been prepared in compliance with the International Financial Reporting Standards, were audited by Shinewing Hameed Chaudhri and Co., and are available on the company's official website.