GATI to reclassify Rs6bn revenue reserves to capital reserves

MG News | June 26, 2023 at 12:54 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

June 26, 2023 (MLN): The Board of Directors (BoD) of Gatron Industries Limited (PSX: GATI) has decided to reclassify a sum of Rs6 billion from the revenue reserves to separate capital reserves, the company’s filing on PSX revealed today.

This recent development is subject to the continuation of their capacity expansions and BMR projects.

“It was noted by the board that due to these endeavors, the general reserves of the company have been utilized and are not entirely available for distribution as dividends,” the notice reads.

The balance of Rs6bn of general reserves and unappropriated profits is reclassified into capital reserves against capacity expansions and BMR.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,083.22 263.77M	-0.63% -1116.80
ALLSHR	106,985.24 708.60M	-0.56% -599.74
KSE30	52,836.31 88.14M	-0.71% -377.39
KMI30	249,402.60 98.38M	-0.75% -1875.51
KMIALLSHR	68,629.46 382.90M	-0.54% -369.14
BKTi	50,585.57 17.47M	-0.42% -215.71
OGTi	34,443.84 5.73M	-1.18% -411.99

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,320.00	64,805.00 64,220.00	-165.00 -0.26%
BRENT CRUDE	79.08	79.15 78.41	-0.28 -0.35%
RICHARDS BAY COAL MONTHLY	107.75	0.00 0.00	0.95 0.89%
ROTTERDAM COAL MONTHLY	118.00	120.40 118.00	0.25 0.21%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	75.40	75.45 74.30	-0.37 -0.49%
SUGAR #11 WORLD	15.06	15.33 15.01	0.05 0.33%