Cost of sales fell 42% to Rs82.74 billion in the year under review as opposed to Rs141.61 billion in the previous year. Gross sales declined 25% to Rs141.29 billion from Rs188.93 billion in the previous year. PHOTO: AFP
The company had earned Rs3.70 billion in the preceding year. Earnings per share stood at Rs96.14 in 2015-16 compared to Rs46.38 in the previous year.
The growth in profit, however, failed to encourage equity investors perhaps because of no recommendation of disbursement of dividend and other entitlements to the shareholders. Share price of the company dropped Rs3.61, or 2.37%, and closed at Rs559.58 with a turnover of 1.56 million shares at the stock exchange.
Cost of sales fell 42% to Rs82.74 billion in the year under review as opposed to Rs141.61 billion in the previous year. Gross sales declined 25% to Rs141.29 billion from Rs188.93 billion in the previous year.
Published in The Express Tribune, August 16th, 2016.
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