Karachi: The Board of Directors of Zahidjee Textile Mills Limited convened on October 28, 2023, at 04:00 p.m. at the company's head office to review and approve the financial statements for the quarter ending September 30, 2023. The board decided against distributing cash dividends, issuing bonus shares, or right shares for this period.

Zahidjee Textile Mills Limited reported substantial sales of PKR 9,611,065,047 for the third quarter of 2023, an increase compared to the PKR 8,518,630,915 reported in the same period of the previous year. The cost of sales also saw an increase, amounting to PKR 8,945,406,970 in Q3 2023 compared to PKR 6,798,538,580 in Q3 2022, resulting in a gross profit of PKR 665,658,077.

The company also reported other incomes of PKR 211,540,344, contributing to a trading profit of PKR 877,198,421, significantly higher than the PKR 1,873,787,602 reported in the same quarter of the previous year.

However, the company incurred distribution costs of PKR 47,127,930, administrative expenses of PKR 73,310,981, other operating expenses of PKR 24,418,341, and finance costs of PKR 268,392,682, summing up to PKR 413,249,933.

After accounting for the provision for taxation of PKR 131,511,663, the profit for the year stands at PKR 332,436,825, resulting in earnings per share (basic and diluted) of PKR 1.74. This marks a significant decrease compared to the earnings per share of PKR 7.08 reported in the same quarter of the previous year.

Zahidjee Textile Mills Limited assures that the quarterly report for this period will be transmitted through PUCARS within the specified timeframe.