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Karachi: Dawood Lawrencepur Limited has revealed its financial performance for the third quarter and nine months ended September 30, 2023. The announcement follows a Board of Directors meeting held on October 27, 2023, at M.T. Khan Road and via video link, where the un-audited unconsolidated and consolidated condensed interim financial statements were approved.
In the un-audited unconsolidated condensed interim statement of profit or loss, the company reported a profit after taxation of PKR 123,721,000 for the quarter ended September 30, 2023, an increase from PKR 312,286,000 in the same period of 2022. The nine-month ended September 30, 2023, also showed a robust performance with a profit after taxation of PKR 735,656,000, up from PKR 537,206,000 in the corresponding period of the previous year. The earnings per share for continuing operations stood at 2.09 for the quarter and 12.41 for the nine months, with an additional 0.12 and (0.27) from discontinued operations, respectively.
In the consolidated condensed interim statement of profit or loss, the revenue from contracts with customers for the quarter ended September 30, 2023, was reported at PKR 2,250,633,000, an increase from PKR 1,140,865,000 in the same period of 2022. The gross profit for the quarter was PKR 1,745,227,000, up from PKR 776,477,000 in 2022. The profit for the period from continuing operations was PKR 2,577,632,000, with an additional PKR 7,087,000 from discontinued operations, totaling a profit for the period of PKR 2,590,280,000. The earnings per share for continuing operations and disposal group were 36.69, with an additional 0.12 from discontinued operations.
The financial results, as detailed in Annexure A and B, will be further supplemented by the quarterly report of the company for the third quarter and nine months period ended September 30, 2023, which will be transmitted through PUCARS within the specified time.