Lahore: Kohinoor Industries Limited has announced its financial results for the first quarter ended September 30, 2024. The Lahore-based company held its board meeting 0n 30 Oct 2024 to approve the unaudited financial statements.

The results show a steady performance with rental income for the quarter reported at Rs 21.44 million, marginally up from Rs 21.40 million in the same period last year. However, administrative and other expenses amounted to Rs 11.61 million, slightly higher than the previous year's Rs 10.64 million.

Operating profit for the period stood at Rs 9.83 million, compared to Rs 10.72 million in the previous year. The finance cost was significantly reduced to just Rs 9,851, a dramatic drop from Rs 4.97 million, boosting the company's profitability. According to information available from the Pakistan Stock Exchange (PSX), the share of profit from associates was a negligible loss of Rs 805, and the company made a provision for statutory levies of Rs 41,133.

Profit before taxation was Rs 19.72 million, up from Rs 15.58 million last year. After accounting for income taxes of Rs 394,402, Kohinoor Industries Limited posted a net profit of Rs 19.33 million. This represents a substantial increase from the previous year's net profit of Rs 15.27 million.

Earnings per share (EPS) also saw a significant rise, from Rs 0.36 in 2023 to Rs 0.54 in 2024. The board did not declare any cash dividends, bonus shares, or other price-sensitive information.

The quarterly report will be disseminated through PUCARS within the designated time frame, ensuring that all members of the stock exchange are fully informed of the company's financial standing.