Lalpir Power Limited Announces Interim Dividend and Financial Results for Half-Year 2024

Lahore: Lalpir Power Limited has declared a 21st Interim Cash Dividend of Rs. 2 per share for the half year ended June 30, 2024, during its Board of Directors meeting on August 28, 2024. This dividend follows a previous interim dividend of the same amount, cumulating to a total dividend payout of 40% for the year. Additionally, the company has reported a significant improvement in its financial performance for the period.

The company’s revenue from contracts with customers reached Rs. 13.46 billion for the half year of 2024, a substantial increase from Rs. 8.49 billion in the corresponding period last year. The revenue for the most recent quarter alone stood at Rs. 4.66 billion. According to information available from the Pakistan Stock Exchange (PSX), the cost of sales escalated to Rs. 9.50 billion, leaving a gross profit of Rs. 3.96 billion, compared to Rs. 2.55 billion in the preceding quarter.

Administrative and other expenses were reported at Rs. 119.68 million and Rs. 2.77 million, respectively, while other income added Rs. 10.84 million to the company’s financials. Profit from operations was robust at Rs. 3.85 billion. Finance costs incurred were Rs. 801.43 million, leading to a profit before income tax of Rs. 3.05 billion, which remained steady after accounting for taxation.

The net profit after taxation also stood at Rs. 3.05 billion, with earnings per share increasing to Rs. 8.03 from Rs. 5.78 in the prior quarter. The company has not proposed any bonus or right shares issuance at this time.

Lalpir Power’s Share Transfer Books will be closed from September 16, 2024, to September 17, 2024, for the entitlement of the second interim dividend. Share transactions completed up to 1:00 p.m. on September 13 at the CDC Share Registrar Services will be eligible for this dividend. The financial accounts have been transmitted through the Pakistan Electronic Joint Capital Automated Reporting System (PEJCARS), and a Disclosure Form in compliance with Section 96 of the Securities Act 2015 has been circulated among the TRE certificate holders of the Exchange.

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