Nishat Chunian Limited has reported a remarkable recovery in its financial performance, achieving a profit of Rs. 691.67 million for the fiscal year 2024. This translates to earnings per share (EPS) of Rs. 2.88, a significant improvement compared to the previous year when the company faced a loss of Rs. 998.93 million, or a loss per share (LPS) of Rs. 4.16.
The company’s revenues saw a substantial increase, reaching Rs. 88.88 billion, which is a rise of 31.4% compared to the fiscal year 2023. This increase in revenue positively impacted the gross profit, which soared by 65.6% to Rs. 10.91 billion, resulting in an enhanced gross margin of 12.3%.
Despite facing challenges such as higher costs in administration and distribution, as well as a significant 43.1% increase in finance costs amounting to Rs. 7.75 billion, Nishat Chunian Limited has successfully navigated these difficulties. Additionally, lower tax payments totaling Rs. 552.18 million played a crucial role in boosting the company’s profitability.
