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Karachi, Fauji Fertilizer Bin Qasim Limited (FFBL) held a Board of Directors meeting in Islamabad on July 21, 2023, where the company recommended no cash dividend, bonus issue, right shares, or any other entitlements for the period. The decision was taken based on the financial performance of the company during the said period.
According to the unaudited condensed interim statement of profit or loss for the half-year ended June 30, 2023, FFBL reported a gross profit of Rs. 6,790,108, which is significantly lower compared to the corresponding period last year, reflecting the challenging economic conditions. The net profit after taxation for the period showed a loss of Rs. 4,950,173, as compared to a profit of Rs. 3,410,050 in the previous year.
In the unaudited interim consolidated statement of profit or loss, FFBL reported a gross profit of Rs. 13,055,496 for the half-year ended June 30, 2023, compared to Rs. 17,856,207 in the previous year. The net profit after taxation for the period showed a loss of Rs. 3,243,442, as compared to a profit of Rs. 4,083,568 in the previous year.
The company also declared the “Closed Period” from July 21, 2023, to July 30, 2023, during which no Director, CEO, or Executive shall deal in the certificates of the Modaraba in any manner as per PSX Regulations. The Board will meet again on July 30, 2023, to consider accounts for the quarter ended March 31, 2023, and any possible entitlement declarations.
The post Fauji Fertilizer Bin Qasim Limited Recommends No Cash Dividend, Bonus, Right Shares, or Other Entitlements; Reports Unaudited Interim Financial Results for Half-Year Ended June 30, 2023 appeared first on Pakistan Company News.