OUR STAFF REPORTER LAHROE - Nishat Mills Limited (NML) announced its fiscal year 2010-11 result on Tuesday (today). The company posted profit after tax of Rs4.8 billion (EPS: Rs13.78). Experts said that the companys higher sales of Rs49 billion (up 54 percent YoY) due to high end product prices were the primary reason for this growth. However, the margins deteriorated by 280bps to 16.2 percent during the period due to increase in input prices which outpaced the growth in end product prices. Although finance cost rose by 42 percentYoY to 1.6bn, impressive growth in other operating income (149 percentYoY to Rs1.7bn) due to financial gains on foreign exchange derivatives and sale of a part of the companys investment in Nishat Power supported the earnings. The company announced an annual cash dividend of Rs3.3 per share. Currently, experts maintain 'Buy call on the scrip. Along with this, a 2.5 times increase in other income was seen due to dividends from AES Lal Pir and Pak Gen which also contributed in this double digit growth in earnings. Other income stood at Rs2.4bn compared to Rs981.6mn seen in same period last year. Alone in 4QFY11, earnings improved by whooping 71 percent to Rs3.9 per share compared to Rs2.27 in same period last year.