Pakistan Stock Exchange Financial Performance Summary for Q3 Ending March 31, 2024

Karachi, The Board of Directors announced today the financial results for the third quarter ended March 31, 2024. The company declared no cash dividends, bonus shares, rights shares, or any other entitlements or corporate actions.

In the nine months ending March 31, 2024, revenue totaled Rs. 395,990,047 compared to Rs. 379,418,649 for the same period last year. The cost of revenue decreased to Rs. 334,135,955 from Rs. 380,434,374, resulting in a gross profit of Rs. 61,854,092, down from Rs. 98,984,275 last year.

Operating expenses included selling and distribution costs of Rs. 31,536,916, administrative expenses amounting to Rs. 23,025,713, and other operating expenses of Rs. 3,852,204, totaling Rs. 58,414,833. This led to an operating profit of Rs. 3,439,259, a decrease from Rs. 27,591,901 in the prior year.

Finance costs were recorded at Rs. 25,134,268, with other income contributing Rs. 1,743,504. The company experienced a pre-tax loss of Rs. 19,951,505, reversing a profit of Rs. 19,061,399 in the previous year. After accounting for taxation, the net loss stood at Rs. 23,884,604, compared to a profit of Rs. 14,416,832 in the prior year.

Earnings per share dropped to a loss of Rs. 1.84 from a gain of Rs. 1.11 per share last year.

The quarterly reports for the company will be transmitted through PUCARS within the specified timeframe.