Karachi, Biafo Industries Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Islamabad on October 24, 2022.
The agenda of the meeting was discussion of profit and loss account for Quarter ended September 30, 2022 which portrayed a profit of Rs. 110,359,444 with earnings per share 2.38 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
The Biafo Industries Limited was incorporated in Pakistan on September 07, 1988, as a Public Limited Company. The Company is engaged in the manufacturing of commercial explosives and blasting accessories including detonators and other materials, and started its commercial production on July 01, 1994. The Company’s license for manufacturing and sale of explosives is required to be renewed annually. They have registered office in Islamabad and their plant is located at Haripur Pakistan.
The number of shares the company has introduced are 38,332,800. The Earnings per share has decreased in 2020 and is 7.06 compare to 13.63 in 2019. The profit after taxation in 2020 is 245,871,000 which was 359,892,000 in 2019.