Janana De Malucho Textile Mills Ltd. Recommends Nil Interim Dividend and Bonus Shares

Karachi, Janana De Malucho Textile Mills Ltd. has announced its financial results for the period ended March 31, 2023. The Board of Directors recommended an interim cash dividend of Rs. Nil per share, which is in addition to the interim dividend already paid. The board also recommended the issuance of bonus shares in the proportion of nil shares for every share held, and these shares will be entitled/not entitled to the right shares.

Furthermore, the board recommended the issuance of nil% right shares at par/at a discount/premium of Rs. Nil per share in proportion to nil share(s) for every nil share(s) subject to the consent of the Controller Capital Issues. No other entitlement or corporate action was recommended by the Board of Directors.

The financial report showed that the net sales of the company were Rs. 1,436,632,000 for the quarter ended March 31, 2023, as compared to Rs. 1,817,986,000 for the same period last year. The gross profit was Rs. 12,938,000, compared to Rs. 201,622,000 in 2022. The distribution cost and administrative expenses were Rs. 43,993,000 and Rs. 86,668,000, respectively. The company incurred a finance cost of Rs. 78,044,000 for the period, which led to a loss of Rs. 109,514,000 before taxation. The earnings per share were Rs. (10.93) for the period.

The financial report is available on the company’s website, and shareholders can view the details of the recommendations made by the Board of Directors.