AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The Board of Directors of Exide Pakistan Limited has released their annual report detailing a robust financial performance for the fiscal year ended March 31, 2024.
The company reported a profit before taxation of Rs. 2,154.70 million, with a subsequent profit after taxation of Rs. 1,254.62 million, reflecting a sound financial position despite significant tax liabilities totaling Rs. 900.07 million. According to information available from the Pakistan Stock Exchange (PSX), this financial strength has allowed the company to propose a substantial cash dividend of Rs. 10 per share, which equates to 100% of the par value of the shares.
The report also highlighted a transfer of Rs. 22.59 million from surplus on revaluation of property, plant, and equipment, net of tax, and a re-measurement gain on the defined benefit plan of Rs. 3.47 million, further contributing to the available profit for appropriation. After proposed dividends and other appropriations, the unappropriated profit carried forward stands at Rs. 1,226.65 million.
Earnings per share for the year were recorded at Rs. 1.50, signaling strong earnings potential and operational efficiency. The directors expressed satisfaction with the company’s performance and are optimistic about its future prospects.