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Lahore: Shakarganj Limited has disclosed its financial results for the third quarter and the nine-month period ending on June 30, 2024, revealing no dividends or bonus shares were distributed and a considerable operational loss was recorded. The Board of Directors, during their meeting via video link on July 29, 2024, confirmed these outcomes.
According to information available from the Pakistan Stock Exchange (PSX), Shakarganj Limited reported substantial losses across both its unconsolidated and consolidated financial statements. The unaudited results showed a loss after taxation reaching Rs. 2,379.89 million in the consolidated statement, with the loss per share marking Rs. 19.30, compared to Rs. 1.93 in the previous year.
The financial statements indicate a significant drop in revenue from contracts with customers, decreasing from Rs. 23.07 billion in the previous year to Rs. 21.25 billion in the current period for the consolidated accounts. This decline is paired with an increase in costs and operational losses, reflecting challenges in both market conditions and internal cost management.
No new entitlements or corporate actions were recommended by the board, indicating a period of financial consolidation and reevaluation for the company moving forward.