Rawalpindi: In a recent declaration from Bannu Woollen Mills Limited, detailed financial results for the first quarter ending September 30, 2024, were disclosed, showcasing varied performance metrics amidst economic shifts. The information, shared during a board meeting at Gammon House, highlights critical financial movements including dividend payments and sales outcomes.

According to information available from the Pakistan Stock Exchange (PSX), Bannu Woollen Mills detailed its profit and sales figures which showed an uptick in revenue but fluctuating profit margins due to increased operational costs. The company posted net sales of Rs. 321.29 million, up from Rs. 193.80 million in the previous year. However, the cost of sales also rose significantly, leading to a gross profit of Rs. 100.19 million compared to last year's Rs. 51.12 million.

The Board of Directors, convening on October 30, 2024, has resolved to distribute an interim cash dividend, though the exact per share amount remains undisclosed. Additionally, a new issuance of bonus shares was approved, enhancing shareholder value without specifying the share ratio.

The profit after tax stood at Rs. 21.10 million, a substantial recovery from a loss of Rs. 20.23 million reported in the same quarter last year. This financial recovery is supported by stringent fiscal strategies and market adjustments reflected in the company's operational activities.

Furthermore, the company’s administrative expenses saw a nominal increase, positioning Bannu Woollen Mills in a challenging yet improving fiscal environment. The reported earnings per share turned positive at Rs. 2.22, rebounding from a loss of Rs. 2.13 per share last year.