The profit after tax of Mehran Sugar Mills Limited (MSML) has increased to Rs 241.986 million in the year ended September 30, 2010 as compared to Rs 175.912 million earned in the corresponding period last year. The company's earning per share increased to Rs 16.93 in the period under review against Rs 12.31 in the same period a year back.
The board of directors of the company in its meeting held on Tuesday recommended a final cash dividend for the year at Re 1.00 per share ie 10 percent. This is in addition to interim dividend already paid at Rs 2.5 per share ie 25 percent.
The board also recommended final issue of bonus shares in the proportion of 10 shares for every 100 shares held ie 10 percent. This is in addition to the interim bonus shares already issued at 10 shares for every 100 shares ie 10 percent. According to the financial results sent to Karachi Stock Exchange (KSE), the company's turnover increased to Rs 4.025 billion in this period against Rs 2.692 billion in the same period last year.
The company paid Rs 184.425 million as sales tax/excise duty in this period against Rs 304.594 million paid in the same account last year. The company's cost of sales increased to Rs 3.366 billion against Rs 1.994 billion last year. The company's profit before taxation increased to Rs 321.129 million in this period against Rs 245.693 million in the same period last year.