ecurity Papers Limited posted a 74% profit in the first quarter of the financial year while SPL’s earnings per share also increased by Rs 2.62.
After paying 110% dividend in FY 2022-23, Security Papers Limited has announced its financial results for the first quarter of FY23-24 ended September 30, 2023, which is lower than the same period last year. A 74% increase in profit after tax rate was seen while during this period a substantial increase in earnings per share of Rs.2.62 was recorded.
The company posted net sales of Rs 1,729 million in the first quarter of FY2023-24, which shows a substantial increase over the Rs 1,183 million achieved in the first quarter of FY2022-23.
Reflecting the company’s commitment to ensure effective cost management and achieve better operational efficiency, Security Papers Limited posted a gross profit of Rs 484 million in the first quarter, an increase of 72% over the same period last year. Which shows an increase of Rs.203 million.
The company’s profit after tax stood at Rs 365 million in the first quarter of FY2023-24, up 74 percent from Rs 210 million in the same period last year.