Karachi: Thal Limited has released its financial results for the fiscal year ended June 30, 2024, demonstrating robust performance despite market fluctuations. The Board of Directors, convening on September 10, 2024, declared a final cash dividend of Rs. 6 per share, or 120%, which complements an earlier interim dividend of Rs. 2 per share (40%).
For the year ended June 30, 2024, Thal Limited reported unconsolidated revenues from contracts with customers amounting to 26.55 billion rupees, down from 31.92 billion in the prior year. The cost of sales saw a decrease to 23.75 billion rupees from 27.51 billion. This resulted in a gross profit of 2.80 billion rupees compared to 4.41 billion rupees in 2023.
According to information available from the Pakistan Stock Exchange (PSX), distribution and selling expenses slightly increased to 794.55 million rupees, whereas administrative expenses rose to 1.24 billion rupees. Other income notably improved, reaching 3.13 billion rupees. Thal Limited’s operating profit was 3.79 billion rupees, down from 4.42 billion in the previous year.
The company’s consolidated financial statements further underline its growth, with revenues at 29.41 billion rupees. After accounting for costs and expenses, the operating profit stood at 5.53 billion rupees. The share of profit from associates and joint ventures was a substantial 9.01 billion rupees, leading to a pre-tax profit of 12.82 billion rupees.
After adjustments for taxation and non-controlling interests, the net profit attributable to the equity holders of the holding company was 8.51 billion rupees, showing a significant increase from the 3.16 billion rupees recorded last year. The earnings per share for equity holders surged to 105.06 rupees from 38.94 rupees.
The company also announced the schedule for its 58th Annual General Meeting, to be held on October 24, 2024, in Karachi. The share transfer books will remain closed from October 17 to October 24, 2024, with October 16 set as the cutoff for entitlements to dividends.
Thal Limited’s solid financial results and the substantial dividends reflect its strong market position and operational success, supporting shareholder value amidst economic challenges.