Nishat Mills Limited has announced a net profit of Rs800.183 million, translating into an earning per share of Rs3.3 for the quarter ended on March 31, 2010 as compared to a net loss of Rs37.36 million during the corresponding period last year, a statement issued on Monday said.
The company did not announce any dividend, bonus or right shares on the basis of quarterly results. The sales of the company surged by a massive 46 per cent on account of improved demand, following recovery from the economic turndown, the statement said.
Another factor that contributed to the improved profitability of the company is reduced financing cost that declined to Rs261.97 million during the period under review against Rs390.322 million during the corresponding period last year, it said. For the nine months ended on March 31, the net profit of the company stood at Rs1.81 billion, translating into an earning per share of Rs7.47 as compared to Rs1.1 billion and earning per share of Rs6.79 last year.
Source The News
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