Profit after tax of NML reduces to Rs2.526bn

RECORDER REPORT

KARACHI: The profit after tax of Nishat Mills Limited has reduced to Rs.2.526 billion in the first nine months of FY12 as compared to Rs.3.481 billion earned in the corresponding period in 2011.

The Board of Directors of the Company in its meeting held on Friday declared that the Company's earning per share stood at Rs.7.19 in the period under review against Rs.9.90 in the same period of last year.

According to the financial results sent to Karachi Stock Exchange, the Company's sales declined to Rs.32.513 billion in nine-month period this year against Rs.34.864 billion in the same period of last year while cost of sales reduced to Rs.27.693 billion against Rs.29.125 billion.

The Company's profit before taxation decreased to Rs.2.926 billion in the nine month period in FY12 against Rs.3.943 billion in the same period in 2011.

On quarterly basis, the Company's profit after tax stood at Rs.624.366 million translating earning per share of Rs.1.78 in the quarter ended March 31, 2012, as compared to after tax profit of Rs.1,423.513 million with per share earning of Rs.4.05 in the same quarter of last year.