TCP registers Rs 1.632 billion profit after tax

The Trading Corporation of Pakistan (TCP) has earned profit after tax as Rs 1.632 billion during the last fiscal year (2009-2010). Annual General Meeting of Trading Corporation of Pakistan (Pvt) Ltd (TCP), on Friday approved Annual Audited Accounts for the year 2009-2010. The Audited Accounts prepared by Chartered Accountants M/s Muniff Ziauddin Junaidy & Co show profit before tax as Rs 2,035.2 millions and profit after tax as Rs 1,632.878 millions.
The AGM appreciated the Management for bringing discipline in administration expenses and earning better profits with lesser activity during the year compared to previous financial year. The AGM and Board of Directors expressed satisfaction on the fiscal management of TCP during the year 2009-2010. It may be mentioned that TCP was incorporated in 1967 with capital of Rs 7.5 million, which now stands Rs 1 billion by issuing bonus shares. The equity of the Corporation including capital and reserves up to year 2009-2010 comes to Rs 6.9 billions.-PR