Janana De Malucho Textile Mills Reports Financial Results for First Quarter 2024

Rawalpindi, Janana De Malucho Textile Mills Ltd. (the Company) disclosed its financial results for the first quarter ending March 31, 2024, during a board meeting held at Gammon House, Rawalpindi on April 22, 2024. The board of directors declared no cash dividends, bonus issues, or rights shares for this period.

For the quarter ended March 31, 2024, the company reported a net sales figure of 1,515,630 thousand rupees, compared to 1,436,632 thousand rupees for the same period last year. The cost of sales rose slightly to 1,515,645 thousand rupees, resulting in a minimal gross loss of 15 thousand rupees.

Operational costs, including distribution and administrative expenses, totaled 49,444 thousand rupees for the quarter, leading to an operational loss of 49,459 thousand rupees. The financial strain was compounded by a high finance cost of 76,251 thousand rupees, resulting in a loss before taxation of 125,710 thousand rupees.

After accounting for taxation, the net loss for the quarter stood at 118,334 thousand rupees, marking an increase from last year’s loss of 75,605 thousand rupees for the same quarter. Loss per share for the quarter was recorded at 11.17 rupees.

The company will transmit the complete quarterly report separately through PUCARS within the stipulated timeframe.