AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, Kohinoor Power Company Limited has released its un-audited financial results for the third quarter ending March 31, 2024. The figures were finalized during a board meeting held today in Lahore.
The company reported no cash dividends, bonus shares, or other price-sensitive information for the period. The financial results revealed a significant shift in earnings compared to the previous year. For the nine months ended March 31, 2024, Kohinoor Power’s revenue stood at 9,756,289 Rupees, down from 13,223,070 Rupees for the same period last year. The cost of sales was also reduced, leading to a net gross profit of 3,923,899 Rupees, up from 1,818,125 Rupees year-over-year.
For the three-month period ended March 31, 2024, the company experienced a decline in performance, reporting a loss of 80,015 Rupees in gross profit, a stark contrast to the 983,988 Rupees profit during the same period in 2023. Administrative and other expenses remained high, further impacting the quarterly figures.
The operating profit for the quarter was negative, totaling -805,775 Rupees, compared to a loss of 1,849,543 Rupees in the previous year’s corresponding quarter. After accounting for taxation, the profit after tax for the nine-month period was 2,065,713 Rupees, significantly improving from a loss of 2,309,605 Rupees in the previous year.
Kohinoor Power’s earnings per share for the quarter were -0.06 Rupees, compared to -0.15 Rupees in the same quarter of 2023. The company plans to transmit the complete quarterly report through PLICARS within the specified time frame.