RMPL announces dividend of Rs50 per share for 3QCY22

October 19, 2022 (MLN): The board of directors of Rafhan Maize Products Limited (RMPL) has announced a dividend of Rs50 per share for the third quarter ended on September 2022.

This is in addition to two interim dividends already paid Rs100 per share i.e., 1,000%, and Rs50 per share i.e., 500%.

In 3QCY22 the after-tax profits jumped by 27.20% to Rs1.66 billion as compared to Rs1.31bn in the same period last year (SPLY).

However, in 9MCY22, the profits of the company plummeted by 7.39% YoY to Rs4.91bn as compared to Rs5.30bn in the SPLY which took earnings per share to Rs531.35 in the review period.

The financial statement sent to PSX further revealed that the topline of the company moved up by 37.16% YoY to Rs41.75bn in 9MCY22 against Rs30.44 in SPLY, while the cost of sales increased by 48.39% YoY. Resultantly, RMPL’s gross margin dropped by 22% YoY during the period.

Accordingly, profit before taxation stood at Rs7.68bn up by 4.02% YoY as compared to Rs7.38bn in SPLY.

In addition, the company paid Rs2.77bn in terms of taxes and incurred a finance cost of Rs141 million.

At the time of writing, the scrip of the company is being traded at Rs11,800, up by Rs800 or 7.27 DoD.

Copyright Mettis Link News