Nishat (Chunian) profit after tax rises to Rs 1.458 billion

KARACHI: The profit after taxation of Nishat (Chunian) has increased to Rs 1.458 billion in the year ended June 30, 2011 (FY11) as compared to Rs 1.001 billion earned in FY10. The company’s earning per share (basic) increased to Rs 9.07 in the period under review against Rs 8.49 in the same period last year while the company’s earning per share (diluted) increased to Rs 8.82 against Rs 6.59.

The board of directors of the company in its meeting held on October 8, 2011 has recommended a final cash dividend at Rs 2.00 per share i.e. 20 percent for ordinary shares while Rs 1.50 per share i.e. 15 percent final cash dividend announced for preferential shares.

According to the financial results sent to Karachi Stock Exchange, the company’s sales increased to Rs 20.322 billion in FY11 against Rs 13.343 billion in FY10 while cost of sales increased to Rs 16.913 billion against Rs 10.661 billion. The company’s profit before taxation increased to Rs 1.662 billion in FY11 against Rs 1.135 billion in FY10.

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