Lahore: Shaffi Chemical Industries Limited disclosed its financial results for the third quarter ending September 30, 2024, during a Board of Directors meeting held on October 25, 2024. The board decided not to declare any cash dividends or issue any bonus or right shares for the quarter.
The company's financial statement showed revenue of 5.54 million rupees, an increase from 4.51 million rupees in the same quarter of the previous year. The cost of sales rose to 4.31 million rupees from 3.49 million rupees, resulting in a gross profit of 1.23 million rupees, up from 1.02 million rupees in the previous year. Administrative expenses also increased to 0.39 million rupees from 0.31 million rupees.
According to information available from the Pakistan Stock Exchange (PSX), Shaffi Chemical Industries reported a profit from operations of 0.84 million rupees, compared to 0.71 million rupees in the prior year. The finance cost was significantly reduced to 0.00 million rupees from 2.73 million rupees, leading to a profit before taxation of 0.84 million rupees, a turnaround from the previous year's loss of 2.02 million rupees.
After accounting for current tax of 0.07 million rupees, the company posted a profit after taxation of 0.77 million rupees, a notable recovery from the loss of 2.02 million rupees reported in the corresponding quarter of the previous year. Earnings per share for the quarter stood at 0.06 rupees, compared to a loss of 0.17 rupees in the same period last year.
The company announced that the entitlement and any corporate actions would be applicable to shareholders listed in the Register of Members as of a date to be specified. The share transfer books will be closed from a specified date, and transfers received by the end of business on that date in Lahore will be considered for entitlement purposes.
The quarterly report for the period ending September 30, 2024, will be distributed through PUCARS within the designated timeframe, providing detailed income statements for both current and comparative periods.