Karachi: Wah Nobel Chemicals Limited has declared a robust financial performance for the fiscal year ended June 30, 2024, with a significant rise in profit and a substantial cash dividend for its shareholders. The company reported a net profit of 549.41 million Rupees for the year, marking an increase from the previous year’s 449.23 million Rupees. The earnings per share also grew from 49.91 to 61.05.

In their meeting on October 1, 2024, the Board of Directors approved a final cash dividend of 10 Rupees per share, reflecting a 100% payout as no interim dividend was distributed during the year. According to information available from the Pakistan Stock Exchange (PSX), the financial results underscore the company’s operational efficiency and favorable market conditions, which contributed to a higher profit margin.

The detailed financial statement shows that the company's revenue increased to 4.68 billion Rupees, up from 4.38 billion Rupees in the previous year. The company managed to reduce its finance costs and other expenses significantly, which played a crucial role in boosting the bottom line. Operating profit soared to 1.00 billion Rupees from 844.23 million Rupees.

Additionally, Wah Nobel Chemicals announced that its share transfer books would be closed from October 21 to October 28, 2024, for dividend distribution. The Annual General Meeting is scheduled for October 28, 2024, at the company’s head office in Wah Cantt. The Annual Report will be transmitted to shareholders through PUCARS at least 21 days before the meeting.