Karachi, Kohinoor Textile Mills Limited, a leading textile company, has reported impressive financial results for the fiscal year ending June 30, 2023, with substantial increases in both consolidated and un-consolidated revenues compared to the previous year.
In a meeting held on September 8, 2023, the Board of Directors of Kohinoor Textile Mills Limited recommended a series of financial measures to benefit the company's stakeholders. The recommendations included:
1. Cash Dividend: Details of the cash dividend were not disclosed in the provided information.
2. Bonus Shares: Details of the bonus shares were not disclosed in the provided information.
3. Right Shares: Details of the right shares were not disclosed in the provided information.
No other price-sensitive information was disclosed during the meeting.
Here is a summary of the audited consolidated financial results for the fiscal year ending June 30, 2023, compared to the previous year (amounts in Rupees in thousands):
Revenue: 104,119,672 (2023) vs. 87,976,565 (2022)
Gross Profit: 25,799,677 (2023) vs. 24,128,288 (2022)
Profit from Operations: 18,079,603 (2023) vs. 12,647,517 (2022)
Profit Before Taxation: 15,558,937 (2023) vs. 10,345,661 (2022)
Profit After Taxation: 9,188,695 (2023) vs. 5,330,386 (2022)
Earnings Per Share Basic and Diluted: 21.55 (2023) vs. 12.93 (2022)
The audited un-consolidated financial results for the company for the fiscal year ending June 30, 2023, compared to the previous year, are as follows:
Revenue: 42,046,556 (2023) vs. 39,558,284 (2022)
Gross Profit: 7,480,433 (2023) vs. 10,169,257 (2022)
Profit from Operations: 5,130,900 (2023) vs. 7,379,749 (2022)
Profit Before Taxation: 3,463,592 (2023) vs. 6,575,626 (2022)
Profit After Taxation: 2,407,262 (2023) vs. 4,740,723 (2022)
Earnings Per Share Basic and Diluted: 8.05 (2023) vs. 15.84 (2022)
The company also announced that the Share Transfer Books will be closed from October 13, 2023, to October 19, 2023, inclusive.
Kohinoor Textile Mills Limited's remarkable financial performance reflects its resilience and growth in the textile industry during the fiscal year 2023, despite challenging market conditions. Shareholders and investors are eagerly awaiting more details regarding the recommended cash dividend, bonus shares, and right shares, which are expected to further enhance the company's value proposition.