Shabbir Tiles and Ceramics Ltd. Reports Significant Financial Growth for FY2024

Karachi: Shabbir Tiles and Ceramics Ltd. has announced a robust financial performance for the fiscal year ending June 30, 2024, with a significant increase in both turnover and net profits, according to a recent board meeting held on September 6, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the company’s net turnover climbed to Rs. 15,581.05 million in FY2024 from Rs. 14,182.48 million in the previous year. This increase in revenue drove a substantial rise in gross profit from Rs. 2,987.08 million in FY2023 to Rs. 3,619.35 million in FY2024.

Despite an uptick in both selling and distribution costs and administrative expenses, the firm managed a net operating profit of Rs. 890.11 million, compared to Rs. 648.25 million reported last year. The detailed financial statements reveal a noteworthy jump in profit before taxation, with figures moving from Rs. 304.52 million in FY2023 to Rs. 606.30 million in FY2024.

The company’s financial results also highlighted a cash dividend declaration of 15% with no issuance of bonus or right shares. The detailed earnings per share have significantly increased from Rs. 0.16 in FY2023 to Rs. 1.34 in FY2024.

Shabbir Tiles and Ceramics Ltd. has scheduled its Annual General Meeting for October 24, 2024, at the Auditorium of the Institute of Chartered Accountants of Pakistan in Clifton, Karachi. The company’s Share Transfer Books will be closed from October 18, 2024, to October 24, 2024, to accommodate transfers and prepare for the AGM.

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