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Sialkot, Grays Leasing Limited disclosed its financial results for the quarter ending March 31, 2024, today in a meeting held at its branch office in Sialkot. The Board of Directors confirmed that there will be no cash dividends, bonus shares, or right shares issued for this period.
For the quarter concluded on March 31, 2024, Grays Leasing Limited reported revenues totaling Rs 22,846,016, an increase from Rs 19,320,479 in the corresponding period of the previous year. Revenue from lease operations was Rs 19,005,566, compared to Rs 17,134,723 in the prior year. Other income for the company also rose to Rs 3,840,450 from Rs 2,185,756.
Expenses for the quarter were dominated by administrative and other operating expenses totaling Rs 13,523,707, slightly below the Rs 13,678,164 reported in the previous year. Financial charges were notably reduced to Rs 21,290 from Rs 169,203. The company also recognized an allowance for potential lease losses of Rs 143,044, a significant drop from Rs 2,984,902 in the previous year. Overall, total expenses came to Rs 13,401,953, lower than the Rs 10,862,465 reported last year.
The profit before taxation stood at Rs 9,444,063, showing an improvement from Rs 8,458,014 recorded in the previous year. The company’s profit after taxation increased to Rs 5,868,990 from Rs 6,946,271. The earnings per share (basic and diluted) for the quarter were Rs 0.273, slightly down from Rs 0.323 in the previous year.