Karachi: Khyber Textile Mills Limited has reported an increased operating loss for the quarter ending September 30, 2024, as detailed in its un-audited condensed interim statement of profit or loss and other comprehensive income. The textile company faced higher administrative and financial expenses, contributing to a greater net loss compared to the same period last year.

For the three months ending September 30, 2024, Khyber Textile Mills reported no sales revenue, a significant decline from the 1,848,000 rupees recorded in the previous year. The company also reported a gross profit of 104,947 rupees for the same period last year, highlighting the absence of sales and profit in the current quarter.

Administrative expenses for the quarter rose significantly to 6,157,996 rupees, up from 4,470,353 rupees in the same quarter of the previous year. Financial expenses, specifically bank charges, decreased to 288 rupees from 1,265 rupees. The total expenses this quarter amounted to 6,158,284 rupees, compared to 4,471,618 rupees in 2023.

As a result, the company reported an operating loss of 6,158,284 rupees for the quarter ended September 30, 2024, compared to an operating loss of 4,366,671 rupees in the previous year. Other operating income, including rent, increased to 2,202,400 rupees from 1,506,650 rupees. However, the absence of agricultural income, which was 75,000 rupees last year, contributed to the overall loss.

The loss before taxation was reported at 3,955,884 rupees, a deeper loss compared to the 2,785,021 rupees reported for the same period in 2023. There was no taxation reported in either year. Consequently, the loss after taxation mirrored the loss before taxation, standing at 3,955,884 rupees for the current quarter compared to 2,785,021 rupees last year.

According to information available from the Pakistan Stock Exchange (PSX), the earnings per share, both basic and diluted, showed a loss of 3.22 rupees, increasing from a loss of 2.27 rupees per share in the same period the previous year. The annexed notes form an integral part of these financial statements.