Lahore: Ghani Value Glass Limited has announced its financial results for the year ended June 30, 2024, including a 10% cash dividend for its shareholders. The company reported a net profit after tax of 897.99 million rupees, up from 515.33 million rupees in 2023, showcasing significant growth in profitability.

According to information available from the Pakistan Stock Exchange (PSX), revenue for the year stood at 4.97 billion rupees compared to 3.83 billion rupees the previous year, marking a substantial increase in sales. This growth is attributed to enhanced operational efficiencies and market expansion.

The cost of revenue also saw an increase, totaling 3.22 billion rupees, up from 2.49 billion rupees in 2023. Despite the rise in costs, the company managed a gross profit of 1.75 billion rupees, significantly higher than the 1.33 billion rupees recorded last year.

Operating profit for 2024 was reported at 1.18 billion rupees, a considerable rise from 855.51 million rupees in the prior year. The profit before income tax reached 1.24 billion rupees, up from 895.99 million rupees in 2023.

The board of directors also declared a 10% cash dividend, signaling confidence in the company's financial health and future prospects. No bonus shares were issued, and no other corporate actions were taken.

The Annual General Meeting (AGM) is scheduled for October 28, 2024, in Lahore, where shareholders are expected to approve these financial results and dividend declaration. The company's share transfer books will be closed from October 22 to October 28, 2024, for dividend processing.