Karachi: According to the recently released financial results, International Knitwear Limited reported notable figures for the fiscal year ended June 30, 2024. The company achieved a net sales of Rs. 850.51 million, reflecting a substantial increase from the Rs. 611.49 million recorded the previous year. The gross profit stood at Rs. 81.40 million, slightly above last year’s Rs. 80.71 million.

Operating profits also showed growth, with this year’s figure at Rs. 46.91 million compared to Rs. 47.14 million in 2023. Notably, the profit before income taxes saw a decline from Rs. 37.13 million in 2023 to Rs. 26.78 million in 2024. According to information available from the Pakistan Stock Exchange (PSX), the company has declared a final cash dividend of Rs. 0.75 per share, equating to 7.50% for the year ended June 30, 2024. This financial gesture underscores the company’s commitment to delivering value to its shareholders, despite the mixed financial performance.

No bonus or right shares were issued this year, as per the board’s decision. The board meeting held on September 27, 2024, led to these announcements, with the decisions awaiting shareholder approval at the 34th Annual General Meeting scheduled for October 26, 2024, in Karachi. Shareholders will have their books closed from October 19 to October 26, 2024, with October 18 being the cutoff for share transfers eligible for dividend.