Karachi February 21 2022: Nishat Chunian Limited accounted its 1HFY22 result today, the company posted profit after tax of PKR 4,709 million during 1HFY22 compared to PKR 1,354 million during 1HFY21, posted a hefty growth of 248 percent.
Sales of the company increased by 30 percent to PKR 31.0 billion, the rise in sales is witnessed due to higher cotton prices compared to last year.
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Low pay out disappoint the investor, price of Meezan Bank closed 2.07 percent lower
Gross profit margins of the companies improved by 11 pps to 22.5 percent, higher inventory gains on the back of higher cotton prices was the primary reason behind this increase.
Gross profit of the company increased by 154 percent to PKR 6,998 million.
The company announced unexpected cash payout of PKR 3 per share.
Nishat (Chunian) Limited is a public limited company incorporated in Pakistan under the repealed Companies Ordinance, 1984. The Company is engaged in the business of spinning, weaving, dyeing, printing, stitching, processing, doubling, sizing, buying, selling and otherwise dealing in yarn, fabric and made-ups made from raw cotton, synthetic fiber and cloth, and to generate, accumulate, distribute, supply and sell electricity.
