Karachi, Crescent Steel and Allied Products Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on January 31, 2023.
The agenda of the meeting was discussion of unconsolidated and consolidated profit and loss account for quarter ended December 31, 2022 which portrayed a loss of Rs. 60,830 and 181,536 with loss per share 0.75 and 2.71 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Crescent Steel and Allied Products Limited is a conglomerate corporation listed on the Pakistan Stock Exchange Limited as ‘CSAP’, and thereby is a Public Interest Company. They have started operations with a pipe manufacturing facility in March 1987. The Company now operates five segments Steel, Cotton, Investment and Infrastructure Development (IID), Energy and Hadeed (Billet) segment. The Shares are quoted on Pakistan Stock Exchange Limited.
The total shares of the Company introduced are 77,632,491. The Earnings per share has decreased in 2020 and is (0.22) which was 1.85 in 2019. Their Profit after Taxation has also decreased in 2020 and is (17,124,000) which was 143,476,000 in 2019.