Lahore, JDW Sugar Mills Limited reported significant growth in its financial performance for the half year ended March 31, 2024, during a board meeting held in Lahore Cantt on May 29, 2024. According to information available from the Pakistan Stock Exchange (PSX), the board has recommended a cash dividend of Rs. 20.00 per share for the current financial year ending September 30, 2024, which includes Rs. 17.50 per share from Sugar & other Divisions and Rs. 2.50 per share from the Power Division.

The unconsolidated financial statements reveal a gross revenue of Rs. 66,166,130,774 for the six months ended March 31, 2024, up from Rs. 40,318,859,466 in the previous year. After accounting for sales tax and other deductions, the revenue stood at Rs. 58,369,657,443. The company achieved a gross profit of Rs. 14,027,110,334, more than double the previous year’s figure of Rs. 5,018,321,898.

Operational costs, including administrative and selling expenses, were reported alongside finance costs and taxation. The profit for the period was Rs. 7,887,295,926, markedly higher than last year's Rs. 1,154,841,573. The earnings per share also increased to Rs. 136.51 from Rs. 19.65.

The share transfer books of JDW Sugar Mills will remain closed from June 06, 2024, to June 08, 2024, for the purpose of processing the interim dividend. All transfers received at the registered office by the close of business on June 05, 2024, will be eligible for the dividend.