Karachi: Feroze1888 Mills Limited has released its condensed interim financial statements for the first quarter ended September 30, 2024, revealing static dividend declarations alongside fluctuating profits.

In a board meeting on October 29, 2024, the company's directors convened at the KandN Centre in Karachi, with some members joining via video link, and declared no new cash dividends, bonus shares, or rights shares. According to information available from the Pakistan Stock Exchange (PSX), this decision reflects the company's current financial posture as detailed in their latest profit or loss statement.

For the quarter that concluded on September 30, 2024, Feroze1888 Mills posted a net sales revenue of 15,702.91 million rupees, compared to 17,698.96 million rupees in the same period the previous year. The company's costs of sales also saw a decrease, leading to a gross profit of 2,154.40 million rupees, down from 3,704.73 million rupees year-over-year.

Operating expenses, including administrative and distribution costs, totaled 1,577.71 million rupees, slightly up from the previous year’s 1,785.63 million rupees. The company’s profit before income tax stood at 204.93 million rupees, significantly lower than the 1,282.59 million rupees reported in the previous year.

The earnings per share also reflected a notable decline, standing at 0.01 rupees compared to 2.52 rupees a year ago. These figures highlight a challenging quarter for Feroze1888 Mills, with reduced profitability and static shareholder returns.

The company will transmit its quarterly report separately through the PUCARS system within the specified timeframe, providing stakeholders with more detailed insights into its financial health.