Din Textile Mills Reports Q1 Financials, Declines Dividend and Bonus Shares

Karachi: Din Textile Mills Limited, in a recent disclosure to the Pakistan Stock Exchange, announced its financial results for the first quarter ended September 30, 2024. The board meeting, held on October 22, 2024, at the company’s registered office in Karachi, approved the unaudited financial statements, indicating a challenging quarter without dividends or bonus shares issued to shareholders.

According to information available from the Pakistan Stock Exchange (PSX), the company reported a sales revenue of 11,416.28 million rupees for the quarter, slightly higher than the previous year’s 10,752.22 million. However, net losses widened as operational costs and finance charges continued to burden the company’s profitability.

The financial statement reveals a loss of 347.72 million rupees before income tax, deepening from a loss of 782.69 million rupees year-over-year. Administrative and other operating expenses also reflected a substantial impact, contributing to the company’s financial strain.

No cash dividends, bonus shares, or rights shares were recommended by the board, underscoring the company’s current financial caution amidst its recovery efforts. This decision reflects Din Textile Mills Limited’s strategy to stabilize finances and ensure sustainable operations moving forward.

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