Karachi: Ali Asghar Textile Mills Limited has released its financial results for the fiscal year ending June 30, 2024, highlighting a significant increase in revenue but mixed profitability metrics. The company’s logistic center service revenue reached 66.40 million rupees, marking a 3.60 million rupee increase from the previous year’s 63.80 million rupees. However, despite the revenue growth, the gross profit decreased to 18.52 million rupees from 31.33 million rupees in 2023.

The company reported an operating profit of 202.49 million rupees, a notable increase from 10.90 million rupees in 2023. Profit before levies and taxation rose significantly to 190.64 million rupees from 10.69 million rupees in the prior year. Profit after tax was 99.82 million rupees, a decrease from 14.24 million rupees in 2023. Earnings per share after tax fell to 2.25 rupees from 0.32 rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), Ali Asghar Textile Mills’ total assets increased to 2,517.78 million rupees from 1,654.19 million rupees in 2023. Shareholders’ equity also saw growth, reaching 2,218.96 million rupees in 2024, up from 1,554.58 million rupees in the previous year. The company’s debt equity ratio improved to 8.44:1 from 6% in 2023, while the total debt to total assets ratio remained at 12%.

The current ratio stood at 0.00, indicating a challenge in meeting short-term obligations. The market value per share decreased to 25.73 rupees, down from 34.99 rupees in 2023, while the breakup value per share, including valuation surplus, remained at 49.95 rupees. The company did not declare a cash dividend per share for the year.