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Lahore, Tandlianwala Sugar Mills Limited disclosed its financial results for the six-month period ending March 31, 2024. The company held a Board of Directors meeting on May 29, 2024, where it was decided that no cash dividends, bonus shares, or right shares would be distributed.
The company reported a net sales increase to Rs 26,482,495.775 in 2024 from Rs 26,084,686.560 in 2023 for the six-month period. For the quarter ended March 31, 2024, net sales were reported at Rs 19,808,841,172 compared to Rs 17,583,948,511 in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the cost of sales for the six-month period showed a decrease to Rs 22,741,022,352 in 2024 from Rs 22,938,525,017 in 2023. The gross profit for the six-month period in 2024 was Rs 3,741,473,423 compared to Rs 3,146,161,543 in 2023. Operating profit rose to Rs 3,227,160,219 in 2024 from Rs 2,771,882,616 in 2023.
The company experienced a reduction in its finance costs and other expenses during the period. Profit before taxation stood at Rs 1,668,047,001 for the six months ending March 31, 2024, up from Rs 1,544,879,975 in the same period the previous year. The profit after taxation for the six-month period was reported at Rs 1,121,920,759, slightly below the previous year’s Rs 1,152,501,785. Earnings per share for the six months ended March 31, 2024, were Rs 9.53, compared to Rs 9.79 in 2023.