Lahore, Nishat Chunian Power Limited announced that it will not distribute dividends for the first quarter ending March 31, 2024. The decision was confirmed during the Board of Directors meeting held at their registered office in Lahore on April 29, 2024.
According to the unaudited financial statement released by the company, Nishat Chunian Power Limited experienced a profitable quarter. The company generated a revenue of 3,757,260 thousand rupees for the quarter, up from 3,301,811 thousand rupees in the same period last year. The cost of sales was reported at 2,436,125 thousand rupees for the quarter, compared to 2,123,134 thousand rupees the previous year.
The company's gross profit for the quarter rose to 1,321,135 thousand rupees from 1,178,677 thousand rupees year-over-year. Operating profit also increased significantly, totaling 1,429,336 thousand rupees compared to 1,121,436 thousand rupees in the corresponding quarter of 2023.
After accounting for minimal finance costs and taxes, the profit after taxation stood at 1,422,875 thousand rupees, demonstrating a substantial increase from 893,708 thousand rupees in the same period the previous year. Earnings per share for the quarter were recorded at 3.87 rupees, up from 2.43 rupees per share last year.
The quarterly report detailing the full financial results will be transmitted through PUCARS within the specified timeframe as stipulated by the company.