AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore: JDW Sugar Mills Limited announced its financial results for the nine months and quarter ending June 30, 2024, revealing a substantial increase in profit and earnings per share compared to the previous year. The information was released following a board meeting held on July 29, 2024, in Lahore.
According to information available from the Pakistan Stock Exchange (PSX), JDW Sugar Mills has shown remarkable financial performance. The company’s condensed interim unconsolidated financial statements indicate that the gross revenue for the nine-month period ended June 30, 2024, was 102.03 billion rupees, a significant increase from 62.92 billion rupees in the same period last year. The profit for the period also saw a substantial rise, totaling 12.17 billion rupees compared to 1.69 billion rupees in the previous year.
The consolidated financial statements further underscored the growth, with gross revenue reaching 114.31 billion rupees for the nine months ended June 30, 2024, up from 80.57 billion rupees in the corresponding period last year. The profit for this period in the consolidated accounts was 8.86 billion rupees, showing a notable improvement from 2.20 billion rupees the previous year.
Key financial metrics such as earnings per share have also seen an increase. The unconsolidated earnings per share were reported at 144.86 rupees, up from 25.29 rupees in the prior year. Similarly, the consolidated earnings per share for continuing operations stood at 149.15 rupees, compared to 28.92 rupees the previous year.
Despite these positive trends, the board of directors has recommended no cash dividend. The company also noted that the interim report for this period would be transmitted through PUCARS within the specified time.
This financial update from JDW Sugar Mills highlights its robust performance and optimistic outlook, despite opting not to distribute dividends at this time. Further details of the financial results are documented in Annexures A and B attached to the report.