Ghani Gases posts Rs79.444mn net profit

RECORDER REPORT

KARACHI: Ghani Gases Limited has posted Rs 79.444 million as net profit for the year ended June 30, 2011 (FY11), as compared to net loss of Rs 64.204 million in the same period in FY10.

The board of directors of the company in its meeting held on October 04, 2011 declared that the company's earning per share stood at Rs 1.10 in the period under review against per share loss of Re 0.89 in the same period last year. According to the financial results sent to Karachi Stock Exchange, the company's gross sales (local) increased to Rs 520.773 million in FY11 against Rs 314.935 million in FY10. The company paid Rs 70.680 million as sales tax in FY11 against Rs 41.654 million paid in the same account in FY10, while Rs 5.631 million paid as excise duty in FY11 against 2.664 million paid in the same account last year.

The company's cost of sales increased to Rs 298.932 million in FY11 against Rs 245.108 million in FY10. The company posted Rs 85.013 million, as profit before taxation in FY11 against loss before taxation of Rs 62.558 million in FY10.