AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, The Board of Directors of a Karachi-based company convened on January 29, 2024, to review the financial performance for the quarter ended December 31, 2023. The meeting, held at the company’s registered office located at D-2, SITE, Manghopir Road, Karachi led to several key disclosures.
Financial Performance Overview:
Revenue and Costs: The company reported a revenue of Rs 1,700,649,000 for the quarter, compared to Rs 3,960,505,000 in the same quarter of the previous year. The cost of sales for the quarter was recorded at Rs 1,507,372,000, resulting in a gross profit of Rs 193,277,000.
Operational Costs: Distribution costs stood at Rs 132,069,000, while administrative expenses were Rs 142,556,000. The company also reported other income of Rs 41,145,000.
Operational Loss: The operational loss for the quarter was Rs 38,483,000. The finance cost incurred was Rs 79,610,000.
Profit and Tax: The company experienced a loss before income tax of Rs 118,093,000, and after accounting for income tax expenses of Rs 21,771,000, the net loss amounted to Rs 139,864,000.
Comprehensive Loss: The total comprehensive loss for the period was Rs 139,864,000.
Earnings per Share: The loss per share was recorded at Rs 15.64.
Dividend Announcement:
The Board of Directors has decided not to declare any dividend for this quarter.
The financial results reflect the challenges faced by the company in the reported quarter, particularly in terms of operational expenses and finance costs. The detailed financial statements and other disclosures will be made available as per the regulatory requirements.