Sitara Chemical’s profit after tax increases to Rs688.481mn

RECORDER REPORT

KARACHI: The after tax profit of Sitara Chemical Industries Limited has increased to Rs. 688.481 million in the year ended June 30, 2012 (FY12) as compared to Rs. 427.991 million earned in the corresponding period in FY11.

The company’s earning per share increased to Rs. 32.13 in the period under review against Rs. 19.97 in the same period last year.

The board of directors of the company in its meeting held on Monday approved final cash dividend for the year ended June 30, 2012 at Rs. 8 per share i.e. 80 percent.

According to the financial results sent to Karachi Stock Exchange, the company’s net sales increased to Rs. 7.463 billion in FY12 against Rs. 6.216 billion in FY11. The cost of sales increased to Rs. 5.393 billion against Rs. 4.663 billion.

The company’s profit before taxation increased to Rs. 984.051 million in FY12 against Rs. 518.229 million in FY11.