Karachi: Gul Ahmed Textile Mills Ltd. has announced its financial results for the first quarter ended September 30, 2024. The Board of Directors met on October 25, 2024, at Karachi, and recommended no changes in the distribution of cash dividends, bonus shares, or right shares, maintaining their existing policies amidst stable financial growth.

For the quarter, Gul Ahmed reported a net sales revenue of Rs. 48.92 billion, up from Rs. 42.51 billion in the same period last year. The company's gross profit also showed substantial improvement, amounting to Rs. 6.38 billion compared to Rs. 6.70 billion in the previous year, according to financial statements submitted to the Pakistan Stock Exchange (PSX).

Administrative costs and selling and distribution expenses were reported at Rs. 2.81 billion and Rs. 1.61 billion respectively, maintaining a consistent management expense despite the scaling operations. The operating profit reached Rs. 1.89 billion, a significant increase from Rs. 3.28 billion in the prior year.

Profit before tax stood at Rs. 693.27 million, and after accounting for income tax expenses, the profit after taxation totaled Rs. 177.26 million. The earnings per share (EPS) for the quarter were reported at Rs. 0.45, showing a slight decrease from Rs. 0.74 last year.

According to information available from the Pakistan Stock Exchange (PSX), the company has managed to sustain its financial health through strategic planning and steady market performance. The financial results indicate a strong operational framework that has supported the company in overcoming market fluctuations and maintaining profitability.

The quarterly report and detailed profit and loss accounts of Gul Ahmed Textile Mills Ltd. for the period ended September 30, 2024, will be transmitted through PUCARS separately, within the specified time.