Karachi: Cherat Cement Company Limited has announced its financial results for the fiscal year ended June 30, 2024, showcasing significant improvements in profit and earnings per share. The Board of Directors, in a meeting held on August 22, 2024, recommended a final cash dividend of Rs. 4.00 per share, marking a total annual dividend of 55% including an interim dividend already paid.

The company's net turnover increased to Rs. 38.43 billion, up from Rs. 37.38 billion in the previous year. Gross profit also rose to Rs. 11.84 billion, compared to Rs. 10.14 billion in 2023. The operating profit reached Rs. 10.61 billion, a substantial rise from Rs. 9.19 billion last year.

According to information available from the Pakistan Stock Exchange (PSX), Cherat Cement's profit before income tax climbed to Rs. 9.23 billion from Rs. 7.23 billion in 2023, reflecting a robust growth in operational efficiency and market performance. The company's profit after tax stood at Rs. 5.50 billion, significantly higher than the Rs. 4.40 billion reported the previous year.

Earnings per share increased to Rs. 28.31 from Rs. 22.67, demonstrating enhanced shareholder value. Despite this strong financial outcome, the company declared no bonus or right shares this year.

The Annual General Meeting is scheduled for October 16, 2024, in Khyber Pakhtunkhwa. Share transfer books will be closed from October 9, 2024, to October 16, 2024, with transfers received by October 8 deemed timely for entitlement purposes.