Karachi: Haji Mohammad Ismail Mills Limited has reported an increase in its operating losses for the fiscal year ended June 30, 2024. The company's financial statements, disclosed to the Pakistan Stock Exchange, show a deepened net loss, reflecting heightened operational challenges.

In 2024, the company's operating expenses surged to 5.45 million rupees from 3.81 million rupees in the previous year. This increase primarily stems from elevated administrative expenses, contributing to an operating loss of 5.45 million rupees, up from 3.81 million rupees in 2023. According to information available from the Pakistan Stock Exchange (PSX), other income for the company showed a marginal increase, totaling 0.07 million rupees, compared to 0.04 million rupees in the prior year.

Despite the slight increase in other income, finance costs and the absence of taxation relief pushed the company's loss before taxation to 5.38 million rupees, widening from 3.78 million rupees in 2023. The earnings report indicates a loss per share of 0.45 rupees, deteriorating from 0.32 rupees per share a year earlier.

The financial review underscores the economic pressures facing the company amidst a challenging fiscal environment, as operational costs outpace income growth. This financial downturn impacts not only the company’s profitability but also its shareholder value.