Power Holding Limited Reports Significant Financial Growth in Interim Financial Statements

Karachi: Power Holding Limited has demonstrated notable financial growth in its latest interim financial statements for the nine-month period ending March 31, 2024. The company’s financial health has shown substantial improvement, with significant increases in profits and cash flows compared to the previous year.

For the nine months ended March 31, 2024, Power Holding Limited reported a net profit after taxation of PKR 184.10 million, a substantial rise from PKR 125.00 million during the same period in 2023. This increase in profitability is reflected in the earnings per share, which escalated to PKR 122.73 from PKR 83.34.

According to information available from the Pakistan Stock Exchange (PSX), the company’s total assets reached PKR 1,009.70 billion as of March 31, 2024, compared to PKR 971.55 billion as of June 30, 2023. This increase in assets is supported by a significant rise in non-current assets, including property and equipment, long-term deposits, and deferred tax assets.

The financial results also highlighted a robust increase in the company’s cash and bank balances, which amounted to PKR 552.81 million by the end of March 2024, up from PKR 380.86 million the previous year. The overall cash flows from operating activities were positive, registering PKR 171.94 million, an improvement from PKR 170.78 million in the prior period.

These financial gains are primarily attributed to the increased grants received from the power sector, which totaled PKR 154.40 billion, utilized fully to cover various operational costs, thus maintaining a strong financial standing.

This interim financial report positions Power Holding Limited in a strong spot to continue its growth trajectory and enhance shareholder value.

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