Profit after tax of Pakgen Power Limited increases

RECORDER REPORT

KARACHI: The profit after taxation of Pakgen Power Limited has increased to Rs. 1.225 billion in the half year period ended June 30, 2012 as compared to Rs. 1.107 billion earned in the corresponding period in 2011.

The company’s earning per share increased to Rs. 3.29 in the period under review against Rs 2.98 in the same period last year.

The board of directors of the company in its meeting held on Friday recommended cash dividend at Re 1.00 per share i.e. 10 percent.

According to the financial results sent to Karachi Stock Exchange, the company’s revenue increased to Rs. 13.998 billion in the first half of 2012 against Rs. 13.420 billion in the same period in 2011 while cost of sales increased to Rs 12.278 billion against Rs. 11.928 billion.

On quarterly basis, the company’s profit after tax increased to Rs. 502.101 million translating earning per share of Rs. 1.35 in the quarter ended June 30, 2012 as compared to after tax profit of Rs. 452.595 million with per share earning of Rs. 1.22 in the same quarter last year.