PSE-Listed Company Reports Financial Results for Nine Months Ended March 31, 2024

Karachi, The Board of Directors of a publicly traded company on the Pakistan Stock Exchange held a meeting via video link on April 29, 2024, to discuss the financial outcomes for the nine months ending March 31, 2024. The board reported no changes in dividends, bonus shares, rights shares, or other corporate actions. They also confirmed that no price sensitive information was disclosed during the meeting.

The company’s financial performance highlighted significant increases in both consolidated and unconsolidated net sales compared to the previous year. For the nine months ended March 2024, consolidated net sales amounted to Rs. 127,346,431, up from Rs. 99,861,318 in 2023, while unconsolidated net sales were reported at Rs. 105,146,080, up from Rs. 80,436,440 in the previous year.

The gross profit on a consolidated basis stood at Rs. 20,448,911, slightly higher than the Rs. 19,034,044 reported last year. Unconsolidated gross profits also saw an increase, reporting Rs. 12,081,038 compared to last year’s Rs. 10,970,436. Operating profits followed a similar trend, with consolidated figures reaching Rs. 9,425,452 and unconsolidated figures at Rs. 7,732,679.

Interest and finance costs presented a burden, with consolidated finance costs totaling Rs. 5,630,198, an increase from the previous year’s Rs. 4,427,197. Unconsolidated finance costs were also up at Rs. 3,912,280 compared to Rs. 3,215,359 last year.

After accounting for taxation, the consolidated profit after taxation was reported at Rs. 2,275,013, a decrease from last year’s Rs. 3,303,823. Unconsolidated profit after taxation stood at Rs. 2,309,632, down from Rs. 2,635,793. Earnings per share on a consolidated basis were Rs. 3.07, down from Rs. 4.46 last year, and on an unconsolidated basis, earnings per share were Rs. 3.12, slightly down from Rs. 3.56.

The company also announced that the Quarterly Report for the period ended March 31, 2024, will be made available on its website and transmitted through PUCAR separately.