Waves Home Appliances Limited Reports Financial Results for the Year

Lahore: Waves Home Appliances Limited has disclosed its financial performance for the period ending on June 30, 2024, showcasing a net profit of PKR 116 million for the full year. This financial data was revealed during a review of both half-year and full-year results.

According to information available from the Pakistan Stock Exchange (PSX), the company achieved a gross sales figure of PKR 5,062 million for the year, net of sales returns. After accounting for sales tax and trade discounts, net sales stood at PKR 4,176 million. The cost of sales was recorded at PKR 3,139 million, resulting in a gross profit of PKR 1,037 million for the year.

Operational expenses, including marketing, selling, distribution, and administrative costs, totaled PKR 486 million. Other expenses amounted to PKR 109 million, while other income contributed PKR 73 million to the financials. The operational profit for the year was reported at PKR 516 million.

The finance cost for the year was substantial, amounting to PKR 374 million, which significantly impacted the profit before taxation, reducing it to PKR 143 million. After accounting for taxation of PKR 27 million, the net profit for the year was finalized at PKR 116 million.

These results highlight the financial dynamics of Waves Home Appliances Limited, indicating a robust sales performance tempered by significant operational and finance costs.

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