ZIL Limited Reports Mixed Financial Results for the First Half of 2024

Karachi: ZIL Limited, a major player in the industry, released its condensed interim statement of profit or loss for the first half of the year, ended June 30, 2024. The report highlighted a decrease in earnings, contrasting with the substantial profits recorded in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), ZIL Limited’s sales net for the six months ending June 2024 totaled PKR 3,012.10 million, an increase from PKR 2,552.68 million in the same period last year. However, the cost of sales also rose from PKR 1,813.89 million in the first half of 2023 to PKR 2,192.29 million in 2024, affecting the gross profit margins.

The company faced higher expenses, with selling and distribution costs reaching PKR 543.88 million compared to PKR 273.81 million last year. Administrative expenses also increased from PKR 136.03 million in 2023 to PKR 196.81 million in 2024. These factors contributed to a reduced operating profit of PKR 88.84 million in the first half of 2024, down from PKR 336.27 million in the corresponding period last year.

ZIL Limited reported a profit before tax of PKR 4.99 million, a significant drop from PKR 226.20 million in the first half of 2023. After accounting for taxes, the company recorded a loss after tax of PKR 3.49 million for the period, compared to a profit of PKR 145.44 million in the previous year. Earnings per share also reflected this downturn, with a loss of PKR 0.57 per share compared to a profit of PKR 23.75 per share in the first half of 2023.

The detailed financial figures reveal challenges in both revenue growth and cost management, impacting the overall profitability of ZIL Limited during the first half of 2024.

The post ZIL Limited Reports Mixed Financial Results for the First Half of 2024 appeared first on .