Multan, Reliance Weaving Mills Limited has declared no changes to dividends, bonus shares, right shares, or other entitlements in its third-quarter and nine-month financial results ending March 31, 2024. The decision was finalized in the company's Board of Directors meeting, held on April 30, 2024, in Multan and via Zoom.
For the nine-month period ended March 31, 2024, the company reported a net sales increase to 31,723,989 thousand rupees, up from 24,156,236 thousand rupees in the corresponding period the previous year. The cost of sales also rose, totaling 27,781,435 thousand rupees, compared to 21,641,631 thousand rupees in 2023. This resulted in a gross profit of 3,942,554 thousand rupees, up from 2,514,605 thousand rupees.
Operating expenses, including distribution, marketing, and administrative expenses, totaled 644,791 thousand rupees for the nine-month period, an increase from the 596,799 thousand rupees recorded in the previous year. The company reported a net profit after taxes of 39,027 thousand rupees for the nine months, slightly up from 36,493 thousand rupees in the same period last year.
The quarterly financial performance showed a net sales of 11,558,124 thousand rupees, with a gross profit of 1,342,053 thousand rupees. The company incurred finance costs of 980,088 thousand rupees for the quarter, leading to a modest profit after taxation of 2,791 thousand rupees.
The full quarterly report will be available through the Pakistan Unified Corporate Reporting System (PUCARS) and on the company's website within the specified timeframe.