The profit after tax of Nishat (Chunian) Limited has increased to Rs 18.179 million in the year ended June 30, 2008 as compared to Rs 10.156 million earned in the corresponding period last year. The earning per share of the company increased to Re 0.24 in the period under review against Re 0.14 in the same period a year back.
The board of directors of the company in its meeting recommended bonus shares in the proportion of 10 shares for every 100 shares held ie 10 percent. The board also recommended 50 percent right shares at par of Rs 10 per share in the proportion of 50 shares for every 100 shares.
The entitlement of right shares being declared simultaneously will be applicable on bonus shares as declared above. According to the financial results, the company's sales increased to Rs 9.139 billion in this period against Rs 7.677 billion in the same period a year back. The cost of sales, however, declined to Rs 8.097 billion against Rs 8.720 billion.
Comments
Comments are closed.