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Karachi, In a recent meeting held in Lahore, the Board of Directors of Thal Industries Corporation Limited announced their financial results for the quarter ended March 31, 2023. The company showcased impressive performance with a significant increase in profits compared to the same period last year. Along with the positive results, the Board also recommended the issuance of dividends and bonus shares for the benefit of its shareholders.
Thal Industries Corporation reported a profit after taxation of Rs. 1,643,208,522 for the quarter, marking a substantial rise from the previous year’s figure of Rs. 781,160,811. The company’s comprehensive income for the period also surged to Rs. 1,295,710,578 compared to Rs. 601,069,334 in 2022. These results highlight the company’s strong financial position and successful operational strategies.
Regarding shareholder benefits, the Board of Directors recommended an interim cash dividend for the quarter at Rs. NIL per share, adding to the interim dividend already paid. Additionally, they proposed the issuance of interim bonus shares in proportion to the existing shares held. The exact details of the bonus shares will be determined based on the number of shares held by each shareholder. Furthermore, the Board suggested issuing right shares at a discount, premium, or par value, allowing shareholders the opportunity to acquire additional shares in proportion to their existing holdings.
The recommended entitlement of right shares will or will not be applicable to the previously announced bonus shares. The Board made it clear that no other entitlement or corporate actions are expected at this time, and no other price-sensitive information was disclosed.
Thal Industries Corporation’s financial performance for 1st Quarter 2023 demonstrates the company’s resilience and commitment to delivering value to its shareholders. The proposed dividends and bonus shares further underscore their dedication to rewarding their investors.