Dawood Lawrencepur Limited Reports Mixed Financial Results for Fiscal Year 2023

Karachi, Dawood Lawrencepur Limited has announced its financial results for the fiscal year ending December 31, 2023, as per the latest Board of Directors meeting held today. The company’s unconsolidated financial statements show a notable turnaround, posting a profit after taxation of 918,170 thousand rupees, a significant improvement from the previous year’s loss of 136,967 thousand rupees. This year’s profit was mainly driven by a substantial increase in dividend income, which rose to 1,633,076 thousand rupees from 1,168,978 thousand rupees in 2022.

In contrast, the company’s consolidated financial statements presented a different picture, with a total profit after taxation dropping to a loss of 561,531 thousand rupees, compared to a profit of 2,056,906 thousand rupees in the previous year. This decrease was heavily influenced by losses from disposal groups and discontinued operations, which amounted to a loss of 663,650 thousand rupees, starkly different from the prior year’s profit of 1,580,399 thousand rupees.

The annual general meeting is scheduled for May 29, 2024, in Karachi with the share transfer books to be closed from May 23 to May 29, 2024. The annual report will be available through PUCARS at least 21 days before the meeting.