Karachi: Bawany Air Products Limited has announced a considerable loss in its financial results for the fiscal year ended June 30, 2024. The company disclosed these figures in a formal communication to the Pakistan Stock Exchange Limited.

According to the documents submitted on October 7, 2024, the Board of Directors of Bawany Air Products Limited approved the audited accounts which showed a stark contrast compared to the previous fiscal year. In 2024, the company reported a total comprehensive loss of 22.62 million, a significant downturn from a profit of 59.39 million in 2023.

The financial statement indicated no revenue generation for the year, with administrative expenses reaching 22.46 million. This figure has nearly doubled from the previous year's 11.12 million. The company also reported a slight finance cost of 7.55 thousand, contributing to the overall loss before taxation of 22.46 million.

According to information available from the Pakistan Stock Exchange (PSX), other income for the company drastically reduced from 71.67 million in 2023 to merely 0.81 million in 2024, further highlighting the financial difficulties faced during the year.

The earnings per share also reflected the company’s downturn, recording a loss of 3.02 per share compared to a profit of 7.92 per share in the previous year.

The comprehensive report underlines a challenging fiscal year for Bawany Air Products Limited, with significant reductions in income and heightened administrative costs leading to a substantial annual loss. The financial results are now publicly accessible for shareholders and potential investors to review.