Karachi: Ghandhara Industries Limited has scheduled a Corporate Briefing Session via video link on November 22, 2024. This session aims to inform shareholders, investors, and analysts about the company's financial performance for the fiscal year ending June 30, 2024, as well as its future outlook.

The meeting will be held through Microsoft Teams, with credentials provided as follows: Meeting ID 463 617 553 436 and passcode bu3ux38p. The company has attached a presentation for the session to the notification letter and has requested assistance in disseminating this information to members of the Exchange.

The financial summary indicates that the company reported net sales of Rs. 14,666.20 million for 2024, slightly up from Rs. 14,542.58 million in 2023. The cost of sales decreased to Rs. 11,796.91 million from Rs. 12,241.70 million in the previous year, leading to a gross profit of Rs. 2,869.29 million, compared to Rs. 2,300.88 million in 2023.

Distribution expenses rose to Rs. 1,074.27 million from Rs. 921.74 million, while administrative expenses increased slightly to Rs. 383.87 million from Rs. 371.75 million. Other operating expenses dropped significantly to Rs. 29.37 million from Rs. 129.53 million, and other operating income fell to Rs. 206.83 million from Rs. 315.26 million.

The profit from operations reached Rs. 1,588.61 million, up from Rs. 1,193.12 million in 2023. Finance costs decreased to Rs. 519.24 million from Rs. 769.29 million, resulting in a profit before taxation and levies of Rs. 1,069.37 million, up from Rs. 423.83 million the prior year. After accounting for levies of Rs. 2.73 million, profit before taxation stood at Rs. 1,066.64 million. Taxation was recorded at Rs. 285.22 million, up from Rs. 191.36 million, leading to a profit after taxation of Rs. 781.41 million, a significant increase from Rs. 179.42 million in 2023.

According to information available from the Pakistan Stock Exchange (PSX), Ghandhara Industries Limited's financial performance has shown improvement in several key areas compared to the previous fiscal year.

The session is expected to provide insights into the company's strategic direction and its potential market opportunities.