Karachi, Mehran Sugar Mills Limited has announced its financial results for the half-year ended March 31, 2024. The meeting of the Board of Directors was held on May 20, 2024, at the company's registered office where the financial statements were approved.

According to information available from the Pakistan Stock Exchange (PSX), the company reported a turnover of 3,915,477,923 Rupees for the half-year ended March 2024, compared to 3,571,489,923 Rupees in the same period last year. After accounting for sales tax, the net turnover stood at 3,497,123,453 Rupees. The cost of sales was recorded at 2,554,882,837 Rupees, leading to a gross profit of 942,240,616 Rupees.

Administrative expenses were noted at 170,501,188 Rupees, and distribution costs at 60,689,440 Rupees. The company also reported other operating income of 612,955,353 Rupees. The net result was an operating profit of 781,611,383 Rupees, and after adjusting for finance costs and share of profit from associates, the profit before taxation was calculated at 782,082,669 Rupees.

The financial results highlighted a significant increase in the company’s earnings per share, which stood at 9.47 Rupees for the half year ended March 2024, up from 5.30 Rupees in the previous year. The report specified that no dividends, bonus shares, or rights shares were declared during the period.

The financial statements will be transmitted through the Pakistan Unified Corporate System (PUCARS) separately, within the specified time.