Karachi: Waves Corporation Limited, previously known as Waves Singer Pakistan Limited, has released its financial results for the third quarter ended September 30, 2024, with no dividends or bonuses announced.

The company's consolidated financial statements show that the net sales amounted to Rs. 3,092.91 million, while the gross profit stood at Rs. 978.68 million. This financial period saw marketing, selling, and distribution costs reach Rs. 428.22 million with administrative expenses tallying Rs. 237.99 million. According to information available from the Pakistan Stock Exchange (PSX), the net profit from operations was reported at Rs. 502.12 million, with an overall profit before levies and income tax at Rs. 375.54 million. The profit after taxation for the company was recorded at Rs. 300.09 million, translating to earnings per share of Rs. 1.00.

On the unconsolidated front, Waves Corporation reported an operating profit of Rs. 259.32 million, with finance costs at Rs. 43.16 million resulting in a profit before levies and income tax of Rs. 216.16 million. The net profit after taxation stood at Rs. 179.41 million, with basic and diluted earnings per share noted at Rs. 0.64.

The financial performance illustrates a challenging quarter for Waves Corporation amid fluctuating market conditions, maintaining a stable performance on the unconsolidated level but facing pressures in its consolidated accounts.