TECHNOLOGIES
LIMITED
Half Yearly Report
December 31,
2024
INDEPENDENT AUDITOR'S REVIEW REPORT
TO THE MEMBERS OF SUPERNET TECHNOLOGIES LIMITED
REPORT ON THE CONDENSED INTERIM FINANCIAL STATEMENTS
Introduction
We have reviewed the accompanying condensed interim statement of the financial position of Supernet Technologies Limited (Formerly Hallmark Company Limited) "the Company" as at December 31, 2024, and the related condensed interim statement of profit or loss and other comprehensive income, condensed interim statement of changes in equity, condensed interim statement of cash flows, and notes to the financial statements for the half year then ended (here-in-after referred to as the "condensed interim financial statements"). Management of the entity is responsible for the preparation and presentation of these condensed interim financial statements in accordance with accounting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these condensed interim financial statements based on our review.
Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Statements Performed by the Independent Auditor of the Entity". A review of condensed interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial statements are not prepared, in all material respects, in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.
Other Matter
The figures of the condensed interim statement of profit and loss and the condensed interim statement of comprehensive income and related notes for the quarter ended December 31, 2024, have not been reviewed, as we are only required to review the cumulative figures for the half year ended December 31, 2024.
The engagement partners on this engagement resulting in this independent auditors' review report are S.M. Suhail, FCA and Mashkoor Ahmed FCA.
S.M. Suhail & Co.
Chartered Accountants
Karachi
Our Ref: SMS-A-08522025
Date: February 28, 2025
UDIN: RR202410197BxQcmdrDn
Main Office | |
1112, 11th Floor, Park Avenue | |
PECHS, Block-6 | |
• Karachi | Shahrah-e-Faisal |
• Lahore | Karachi, Pakistan. |
• Islamabad | Phone: + 92-21-34314057 |
• UAE | + 92-21-34314163 |
• Canada | E-mail: sms@smsco.pk |
• Australia | URL: www.smsco.pk |
SUPERNET TECHNOLOGIES LIMITED ( Formerly Hallmark Company Limited) Condensed Interim Statement Of Financial Position
As at December 31, 2024
(Un-Audited) (Audited)
December 31, June 30,
20242024
ASSETS | Note |
Non-Current Assets | |
Property, plant and equipment | 5 |
Intangible assets | 6 |
Long-Term investment | 7 |
Current Assets | |
Trade and other receivables | |
Due from related party | 8 |
Cash and bank balances | 9 |
TOTAL ASSETS | |
EQUITY AND LIABILITIES | |
Share Capital And Reserves | |
Authorized Share Capital | |
150,000,000 (2024: 150,000,000) Ordinary Shares of | 10 |
Rs. 10/- each | |
Issued, subscribed and paid-up capital | |
Revenue Reserves | |
Accumulated Profit | |
Non-Current Liabilities | |
Deferred tax liability | 11 |
Current Liabilities | |
Creditors, accrued and other liabilities | 12 |
Due to related party | 13 |
Unclaimed dividend | 14 |
Provision for taxation | |
TOTAL EQUITY AND LIABILITIES | |
Contingencies and commitments | 15 |
------------Rupees in '000' | ------------ | ||
3,600 | 4,280 | ||
795 | 885 | ||
759,372 | 626,402 | ||
763,767 | 631,567 | ||
9,128 | 29,558 | ||
- | 284,052 | ||
128 | 1,145 | ||
9,256 | 314,755 | ||
773,023 | 946,322 | ||
1,500,000 | 1,500,000 | |
5,000 | 5,000 | |
59,760 | 30,470 | |
64,760 | 35,470 | |
- | - | |
3,037 | 2,947 | |
705,203 | 907,866 | |
23 | 23 | |
- | 16 | |
708,263 | 910,852 | |
773,023 | 946,322 | |
- | - | |
The annexed notes from 1 to 20 form an integral part of these financial statements.
Chief Executive Officer | Chief Financial Officer | Director |
SUPERNET TECHNOLOGIES LIMITED ( Formerly Hallmark Company Limited) Condensed Interim Statement of Profit or Loss And Other Comprehensive Income For The Half Year Ended December 31, 2024 (Un-audited)
HALF YEAR ENDED | QUARTER ENDED | ||||||||
December 31, | December 31, | ||||||||
2024 | 2023 | 2024 | 2023 | ||||||
Note | ------------------ | Rupees in '000'------------------ | |||||||
Revenue - net | 37,656 | 37,656 | |||||||
- | - | ||||||||
Cost of services | - | (18,217) | - | (18,217) | |||||
Gross Profit | - | 19,439 | - | 19,439 | |||||
Administrative expenses | (12,504) | (11,410) | (6,545) | (11,025) | |||||
Selling expenses | - | (4,066) | - | (4,066) | |||||
Operating Profit / (Loss) | (12,504) | 3,963 | (6,545) | 4,347 | |||||
Other income and (expenses) | 41,799 | (502) | 13,140 | (358) | |||||
Bank charges | (5) | (0) | (3) | (0) | |||||
Profit before levies and taxation | 29,290 | 3,460 | 6,592 | 3,989 | |||||
Levies | - | (377) | - | ||||||
Profit before taxation | 29,290 | 3,083 | 6,592 | 3,989 | |||||
Taxation | - | - | - | ||||||
Profit after taxation | 29,290 | 3,083 | 6,592 | 3,989 | |||||
------------ | Rupees | ------------ | |||||||
6.17 | 7.98 | ||||||||
Earnings per share - basic and diluted | 16 | 58.58 | 13.18 |
The annexed notes from 1 to 20 form an integral part of these financial statements.
Chief Executive Officer | Chief Financial Officer | Director |
SUPERNET TECHNOLOGIES LIMITED ( Formerly Hallmark Company Limited) Condensed Interim Statement of Cash Flows
For The Half Year Ended December 31, 2024 (Un-audited)
December 31, | December 31, | ||||
2024 | 2023 | ||||
------------Rupees in '000'------------ | |||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Profit before taxation | 29,290 | 3,604 | |||
Adjustments for: | |||||
Depreciation | 680 | 45 | |||
Amortization | 90 | 90 | |||
Exchange gain - Recognized | - | (145) | |||
Operating Profit Before Working Capital Changes | 30,060 | 3,594 | |||
Changes in working capital | |||||
(Increase)/ decrease in current assets: | |||||
Trade debts | 20,430 | (37,501) | |||
Due from related party | 284,052 | ||||
Deferred tax asset | - | (1) | |||
Increase / (decrease) in current liabilities: | |||||
Trade creditor | 90 | 10,395 | |||
Payable to related party | (202,663) | 17,368 | |||
Other payable | - | 6,278 | |||
Total Changes In Working Capital | 131,969 | 133 | |||
Taxes paid | (16) | (77) | |||
Net Cash Inflow From Operating Activities | 131,953 | 56 | |||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||
Long term investment | (132,970) | - | |||
Net Cash (Outflow) From Investing Activities | (132,970) | - | |||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||
Net Cash Inflow / Outflow From Financing Activities | - | - | |||
Net increase/ (decrease) in cash and cash equivalents | (1,017) | 56 | |||
Cash and cash equivalents at the beginning of year | 1,145 | 94 | |||
Cash and cash equivalents at the end of year | 128 | 150 | |||
The annexed notes from 1 to 20 form an integral part of these financial statements.
Chief Executive Officer | Chief Financial Officer | Director |
SUPERNET TECHNOLOGIES LIMITED ( Formerly Hallmark Company Limited) Condensed Interim Statement of Changes in Equity
For The Half Year Ended December 31, 2024 (Un-audited)
Issued | |||||
subscribed | Accumulated | Total | |||
and paid up | profit / (loss) | Equity | |||
capital | |||||
------------Rupees in '000'------------ | |||||
Balance as at June 30, 2023 (Audited) | 5,000 | (4,380) | 620 | ||
Profit for the period | - | 3,083 | 3,083 | ||
Balance as at December 31, 2023 (Un-audited) | 5,000 | (1,297) | 3,703 | ||
Balance as at June 30, 2024 (Audited) | 5,000 | 30,470 | 35,470 | ||
Profit for the period | - | 29,290 | 29,290 | ||
Balance as at December 31, 2024 (Un-audited) | 5,000 | 59,760 | 64,760 |
The annexed notes from 1 to 20 form an integral part of these financial statements.
Chief Executive Officer | Chief Financial Officer | Director |
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