Nishat Mills Limited (PSX: NML) announced on Tuesday its financial results for the financial year that ended on June 30, 2023.

According to the company’s unconsolidated results, it posted a profit after tax (PAT) of Rs. 12.16 billion. This is the highest-ever PAT recorded by NML fueled by higher net revenue, according to Arif Habib Limited.

Along with the result, the company announced a final cash dividend of Rs. 5 per share (50 percent) for the period in review.

During the full year, the revenue of the company increased by 22 percent YoY to Rs. 141.7 billion from Rs. 115.7 billion.

The gross profit of the company in FY23 jumped by 21.6 percent YoY to Rs. 21 billion, while the other income surged by 83 percent YoY from Rs. 5.57 billion to Rs. 10.2 billion.

NML’s finance cost skyrocketed by over 220 percent YoY from Rs. 2.16 billion to Rs. 6.9 billion in FY23.

The company reported earnings of Rs. 34.6 per share for the full year as opposed to Rs. 29.3 per share in the previous year.

The company’s scrip at the bourse closed at Rs. 60.39, down 2.04 percent or Rs. 1.26 with a turnover of 2,212,530 shares on Tuesday.

Source: Pro Pakistani