Islamabad: Shifa International Hospitals Limited has announced significant financial growth for the fiscal year ending June 30, 2024. The details of the company’s financial performance reveal notable increases in net revenue and profits.
The unconsolidated financial statements for Shifa International Hospitals show a substantial growth in net revenue from PKR 19.72 billion in 2023 to PKR 23.56 billion in 2024, marking an increase of 19.51%. Other income decreased from PKR 617.02 million in the previous year to PKR 190.12 million. The company’s operating costs saw a reduction, further boosting their profit margins, down from PKR 17.87 billion in 2023 to PKR 20.94 billion in 2024. Profit before income tax rose from PKR 1.94 billion in 2023 to PKR 2.25 billion in 2024. The earnings per share also saw a positive shift, climbing from PKR 18.69 in 2023 to PKR 21.55 in 2024.
According to information available from the Pakistan Stock Exchange (PSX), the consolidated financial statements mirror this positive trend, with net revenue increasing from PKR 19.70 billion in 2023 to PKR 23.55 billion in 2024. The profit before income tax on a consolidated basis also showed a healthy increase from PKR 1.96 billion in 2023 to PKR 2.26 billion in 2024. Consolidated earnings per share for continuing operations were reported at PKR 21.64, up from PKR 18.55.
Shifa International Hospitals has also declared a final cash dividend of PKR 2.5 per share, which is 25% of the face value, for the year ended June 30, 2024. The company has scheduled its Annual General Meeting for October 28, 2024, at its registered office in Islamabad. Additionally, the Share Transfer Books will remain closed from October 19, 2024, to October 28, 2024, to facilitate the dividend payment.
The annual report of the company will be available on their website and has been transmitted through PUCARS at least 21 days prior to the Annual General Meeting. This report provides shareholders and potential investors with comprehensive insights into the company’s operational and financial performance.