Lahore: Ittehad Chemicals Limited has disclosed its financial performance for the half-year ending December 31, 2024, during a board meeting on February 14, 2025. The board convened at 11:30 a.m. at the company’s registered office on Empress Road, Lahore.

On the financial front, Ittehad Chemicals reported a notable gross profit of 2.48 billion for the half year, demonstrating an increase from the previous year’s figure of 2.43 billion. This improvement is attributed to a rise in revenue from contracts with customers, which reached 13.14 billion, a significant increment from the 12.17 billion recorded during the same period last year.

In an effort to reward its shareholders, the board approved an interim cash dividend of Rs. 2.00 per share, equating to a 20% payout. However, no bonus or right shares were announced. The share transfer books will be closed from March 1 to March 3, 2025, with transfers received by February 28 being eligible for the dividend.

According to information available from the Pakistan Stock Exchange (PSX), the operating profit for the half-year stood at 1.44 billion, compared to 1.67 billion from the previous year. Despite this decline, the profit after taxation was reported at 614.40 million, showcasing a decrease from last year’s 694.30 million.

The company also recorded significant cash flow from operating activities, amounting to 1.75 billion, albeit slightly down from the previous 1.94 billion. This was supported by financial charges of 352.18 million and a profit before income tax and levy of 1.09 billion.

The financial results reflect the company’s robust performance in the chemicals market category and its strategic efforts to maintain profitability amidst fluctuating economic conditions. The report illustrates Ittehad Chemicals’ commitment to shareholder value and operational efficiency, setting a strong precedent for the remainder of the fiscal year.