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As a leader of seamless stainless steel pipes & tubes in Pakistan, Huffaz Seamless Pipe Industries Limited is making waves in the Karachi Stock Exchange, being a constituter of its KSE 100 Index. The company's manufacturing epicenter is found at Port Qasim, Karachi.
Concluding https://www.ytseamlesspipe.com/carbon-seamless-steel-pipe-supplier/ , the company experienced exponential growth in their sales, boasting an impressive Rs. 10.06 billion, 15% higher than the previous fiscal year. Market saturation was no match for them, as their efforts towards a more diverse product line and increased sales pushed their gross profits to Rs. 1.92 billion, signaling a 25% jump from the year prior. It's clear that their dedication towards expanding product selection and driving greater volume was enough to solidify a strong financial year.
In the 2018 fiscal year, the corporation experienced a 30% surge in net profit, taking their earnings to Rs. 1.31 billion. This gain was due to a boost in gross income as well as a reduction in financing expenses.
The board of directors has proposed a closing payout of Rs. 5 per share, therefore elevating the year’s total dividend for 2018 to Rs. 10 per share.
The first quarter of the fiscal year 2019 proved to be a great success for the company, as its sales increased by 9%, resulting in a total of Rs. 2.54 billion. This growth was fuelled by higher sales volumes, which also pulled up the gross profit, reaching Rs. 474 million; representing a 14% increase relative to last year’s figures.
During the first quarter of Fiscal Year 2019, the company saw an increase of 21% in net profits amounting to Rs. 327 million. This was attributed to higher gross profit and lowered finance costs.
After diligently assessing the financial situation, the governing board of directors determined that a quarterly dividend of Rs. 5 ought to be provided for each outstanding share of the fiscal year 2019.
Read More: https://www.ytseamlesspipe.com/carbon-seamless-steel-pipe-supplier/
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