KARACHI: Nishat Mills Limited (NML) has posted Rs 12.166 billion as profit after tax (PAT) in the year ended on June 30, 2023 as compared to Rs 10.311 billion earned in the same period last year.

The Company’s earning per share (basic and diluted) has increased to Rs 34.60 in the period under review against Rs 29.33 in the same period in 2022.

The board of directors of NML, in its meeting held at Lahore on Tuesday recommended a final cash dividend at the rate of Rs 5 per share, i.e., 50 percent for the year ended June 30, 2023.

According to the financial results sent to Pakistan Stock Exchange, the Company’s revenue increased to Rs 141.756 billion in the period under review against Rs 115.768 billion in the same period last year while the cost of sales increased to Rs 120.677 billion against Rs 98.432 billion.

The Company’s distribution cost increased to Rs 6.238 billion in this period against Rs 5.665 billion in the same period a year back while administrative expenses increased to Rs 2.150 billion against previous year’s Rs 1.671 billion.

The Company’s other income increased to Rs 10.201 billion in this year against Rs 5.571 billion in the same period last year while finance cost increased to Rs 6.927 billion this year against previous year’s Rs 2.160 billion.

The Company’s profit before taxation increased to Rs 15.406 billion in the year ended on June 30, 2023 against Rs 12.907 billion in the same period last year while taxation increased to Rs 3.240 billion in this year against Rs 2.595 billion in the same period last year.

Copyright Business Recorder, 2023