Tandlianwala Sugar Mills Reports Decline in Profits and No Dividend in Recent Financial Update

Tandlianwala: Tandlianwala Sugar Mills Limited announced its financial results for the nine months period ended June 30, 2024. The meeting of the Board of Directors was held on July 29, 2024, where it was confirmed that no cash dividends, bonus shares, or rights shares will be distributed.

According to information available from the Pakistan Stock Exchange (PSX), the company’s financial performance indicates a drop in sales from 35.29 billion rupees in the previous year to 32.25 billion rupees by June 2024. Similarly, the cost of sales showed a decrease, resulting in a gross profit of 5.03 billion rupees, up from 4.44 billion rupees in the corresponding period last year.

Despite these gains, Tandlianwala Sugar Mills faced higher operational challenges, with administrative expenses rising to 554.01 million rupees and distribution expenses amounting to 295.45 million rupees. The operational profit stood at 4.24 billion rupees, compared to 3.68 billion rupees in the previous year.

Finance costs surged significantly to 2.75 billion rupees, impacting the net profit, which settled at 1.02 billion rupees, compared to 1.25 billion rupees after taxation in the previous year. The earnings per share also declined to 8.69 rupees from 10.65 rupees.

This financial snapshot highlights a cautious stance from the company, reflecting the challenging economic conditions affecting the sugar industry.