Karachi: Al-Noor Sugar Mills Limited reported their mid-year financial results for the period ended June 30, 2024, during a board meeting held on July 25, 2024. The directors did not recommend any changes in cash dividends, bonus issues, or rights shares, maintaining their previous positions with all percentages marked as NIL.

According to information available from the Pakistan Stock Exchange (PSX), the financial summary revealed that for the nine months leading up to June 30, 2024, sales reached Rs. 14,327.25 million, showing an increase from Rs. 8,999.15 million in the corresponding period the previous year. Despite higher sales, the company reported a net profit of only Rs. 96.52 million, a decrease from last year’s Rs. 46.22 million loss in the same quarter.

Cost of sales stood at Rs. 11,801.55 million, and operational expenses, including administrative and distribution costs, amounted to Rs. 885.52 million. Meanwhile, finance costs were notably high at Rs. 1,378.49 million. The company also noted a profit of Rs. 44.41 million from associated entities, contributing positively to their earnings.

The earnings per share for the period were reported at Rs. 4.71, compared to a loss of Rs. 2.26 per share in the prior year. Additionally, the company plans to separately transmit the complete quarterly report through PUCARS within the designated timeframe.

The report underscores the stability in the company’s dividend and share distribution strategy, despite the various financial figures involved. No additional corporate actions or price-sensitive information was disclosed during this announcement period.