Profit after tax of NML increases to Rs 2.915 billion

The profit after tax of Nishat Mills Limited (NML) has increased to Rs 2.915 billion in the year ended June 30, 2010 (FY10) as compared to Rs 1.268 billion earned in the corresponding period in FY09. The board of directors of the company in its meeting held on Thursday recommended a final cash dividend at Rs 2.50 per share, ie 25 percent for the year.
The company's earning per share (basic and diluted) surged to Rs 10.50 in the period under review against Rs 6.23 in the same period a year back. According to the financial results sent to Karachi Stock Exchange (KSE), the company's sales increased to Rs 31.535 billion in FY10 against Rs 23.870 billion recorded in FY09. The cost of sales increased to Rs 25.555 billion against Rs 19.518 billion. The company's profit before tax surged to Rs 3.286 billion in FY10 against Rs 1.561 billion in FY09.