Karachi, In the latest financial results for the quarter ended June 30, 2023, Shahtaj Sugar Mills Limited showcased robust growth, recording significant gains in revenue and profit. The Board of Directors, in their meeting held on July 26, 2023, recommended an Interim Cash Dividend and Bonus Shares, reflecting the company’s strong performance.

The unaudited financial results for the nine-month period ended June 30, 2023, reveal impressive figures in key areas:

Revenue from contracts with customers increased to Rs. 7,681,715 thousand, compared to Rs. 5,456,074 thousand in the same quarter last year.

Gross Profit surged to Rs. 1,068,519 thousand, showing considerable growth from the previous year’s Rs. 714,087 thousand.

Profit from operations saw a substantial rise, reaching Rs. 800,681 thousand, compared to Rs. 463,272 thousand in the same quarter last year.

The company reported a Profit After Taxation of Rs. 201,552 thousand, a significant increase from the previous year’s Rs. 111,052 thousand.

As a reward to its shareholders, the Board of Directors declared an Interim Cash Dividend of Rs. NIL per share (NIL%) for the quarter ended June 30, 2023. Additionally, an Interim Bonus Share issuance was recommended, entitling shareholders to NIL share(s) for every NIL share(s) held.

The company’s earnings per share (basic and diluted) for the quarter stood at Rs. 16.78, demonstrating substantial growth compared to the same period last year when it was Rs. 9.25. This is a testament to the company’s commitment to delivering value to its investors.