November 5, 2024 | FORM-3 |
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building, Stock Exchange Road
Karachi, Pakistan.
Subject: Financial Results for the year ended June 30, 2024
Dear Sir,
We have to inform you that the Board of Directors of our Company in their meeting held on November 4, 2024 at 04:30 pm and subsequently on November 5, 2024 at 4:30 pm at Dewan Centre, 3-A, Lalazar, Beach Hotel Road, Karachi, Pakistan, recommended the following:
(i) CASH DIVIDEND | Nil |
AND/OR | |
(ii) BONUS SHARES | Nil |
AND/OR | |
(iii) RIGHT SHARES | Nil |
AND/OR | |
(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION | Nil |
AND/OR | |
(v) ANY OTHER PRICE-SENSITIVE INFORMATION | Nil |
The financial results of the Company for the year ended June 30, 2024 are as follows:
2024 | 2023 | ||||||
(Rs. in '000) | |||||||
GROSS SALES | 11,980 | 212 | |||||
Sales tax | |||||||
(1,827) | (32) | ||||||
Commission and discounts | (200) | - | |||||
(2,027) | (32) | ||||||
NET SALES | |||||||
9,953 | 180 | ||||||
Cost of sales | (292,833) | (141,428) | |||||
GROSS LOSS | (282,880) | (141,248) | |||||
Operating expenses | |||||||
Marketing & Distribution expenses | (106,693) | (14,788) | |||||
Administration and general expenses | (38,093) | (25,477) | |||||
OPERATING LOSS | (427,666) | (181,513) | |||||
OTHER INCOME/(LOSS) | (29,856) | (40,378) | |||||
(457,522) | (221,891) | ||||||
Finance cost | |||||||
(200) | (9) | ||||||
Provision for obsolescence / slow moving stocks | - | (2,556) | |||||
Provision for obsolescence / slow moving stores and spares | - | (6,347) | |||||
(200) | (8,912) | ||||||
(LOSS) BEFORE TAXATION | |||||||
(457,723) | (230,803) | ||||||
TAXATION | (124) | (2) | |||||
(LOSS) AFTER TAX | |||||||
(457,847) | (230,805) | ||||||
Basic / Diluted (loss) per share (Rupees) | (3.43) | (1.73) |