Nishat Mills Limited earns Rs 4.843 billion in fiscal year 2011

KARACHI: Nishat Mills Limited (NML) has posted Rs 4.843 billion in the year ended June 30, 2011 (FY11) as compared to Rs 2.915 billion earned in FY10. The company’s earning per share increased to Rs 13.78 in the period under review against Rs 10.50 in the same period last year.

The board of directors of the company in its meeting held on Tuesday recommended a final cash dividend at Rs 3.30 per share, i.e. 33 percent for the year ended June 30, 2011. According to the financial results sent to Karachi Stock Exchange, the company’s sales increased to Rs 48.565 billion in FY11 against Rs 31.535 billion in FY10. The cost of sales increased to Rs 40.718 billion against Rs 25.555 billion.

The distribution cost increased to Rs 2.190 billion against Rs 1.714 billion, administrative expenses increased to Rs 656.756 million against Rs 545.166 million while other operating expenses increased to Rs 431.220 million against Rs 289.080 million. The company’s other operating income increased to Rs 2,444.985 million against Rs 981.650 million. The profit before taxation of NML increased to Rs 5.411 billion in FY11 against Rs 3.286 billion recorded in FY10.

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