Karachi, In their meeting held on July 26, 2023, the Board of Directors of Khairpur Sugar Mills Limited released the financial results for the quarter ended June 30, 2023. The company reported a net sales of Rs. 4,141,540, a decrease from the previous year’s figure of Rs. 5,405,606. Despite the decline in sales, the company managed to maintain a gross profit of Rs. 600,287, compared to Rs. 834,273 in the same period last year.

Regarding dividends and entitlements, the Board declared an Interim Cash Dividend of Rs. NIL per share, representing NIL% of the share value, in addition to the Interim Dividend(s) previously paid at the same rate. Furthermore, they recommended issuing Interim Bonus shares in proportion to NIL share(s) for every NIL share(s) held, totaling NIL% of the share value. This comes in addition to the Interim Bonus Shares already issued at the rate of NIL%.

The Board proposed issuing NIL% Right Shares at par/at a discount/premium of Rs. NIL per share, with the entitlement of right shares being declared simultaneously, applicable or not applicable on Bonus Shares as declared above.

The company reported a profit before taxation of Rs. 85,427 for the quarter, showing a significant decrease compared to the previous year’s figure of Rs. 367,468. However, after taxation, the profit after taxation for the quarter stood at Rs. 62,262, a decline from the previous year’s figure of Rs. 318,815.

Despite the challenging financials, the company’s total comprehensive profit for the quarter remained stable at Rs. 38,971, compared to Rs. 23,845 in the same period last year.

Further details regarding any other entitlement/corporate action or any other price-sensitive information were not disclosed.