Lahore: Baba Pakistan Limited, a prominent player in the industry, disclosed substantial financial outcomes for the quarter ending September 30, 2024. The company revealed a notable increase in profits and announced a cash dividend of 130%, as detailed in a recent report.

For the three-month period ending September 2024, Baba Pakistan Limited reported a gross profit of Rs. 2.07 billion, a decrease from Rs. 2.11 billion during the same period in 2023. The company's revenue from contracts with customers was Rs. 4.31 billion, showing a decline from Rs. 4.46 billion in the third quarter of 2023.

In a deeper look into the nine-month financial results, the company's revenues stood at Rs. 13.85 billion compared to Rs. 14.21 billion in 2023. Despite the decrease in revenue, the company managed a profit before income tax of Rs. 840.22 million, significantly higher than last year's Rs. 577.36 million during the same period.

The profit after tax for the nine months of 2024 reached Rs. 577.36 million, marking an increase from Rs. 631.35 million in 2023. According to information available from the Pakistan Stock Exchange (PSX), this demonstrates Baba Pakistan Limited’s resilient financial management and strategic operations amidst market fluctuations.

The Board of Directors has approved a cash dividend of 130%, which translates to Rs. 130 per share. This decision reflects the company’s confidence in its financial health and its commitment to rewarding shareholders. Furthermore, the earnings per share for the nine months of 2024 also showed significant improvement, reaching Rs. 76.37 compared to Rs. 83.51 in 2023.

The company’s share register will be closed from November 5, 2024, to November 7, 2024, to facilitate this dividend payout. Shareholders are advised that all transfers received by the close of business on November 4 will be treated accordingly for dividend entitlement.

The complete financial report for the third quarter will be transmitted through PUCARS separately within the specified time.