Faisalabad: Chenab Limited has announced its financial results for the nine-month period ending March 31, 2024, revealing a significant financial loss. The company's Board of Directors, meeting on December 3, 2024, at the registered office in Faisalabad, declared no cash dividends, bonus shares, right shares, or other entitlements for shareholders.

For the nine months ending March 31, 2024, Chenab Limited reported sales of 2,405.34 million rupees, an increase from 1,379.08 million rupees in the same period of 2023. Despite the higher sales, the cost of sales rose to 2,451.35 million rupees from 1,465.11 million rupees, resulting in a gross loss of 46.00 million rupees compared to a gross loss of 86.02 million rupees in the previous year.

The company's operating expenses increased, with selling and distribution expenses rising to 79.77 million rupees from 20.37 million rupees. Administrative expenses also saw an increase, reaching 216.00 million rupees compared to 175.20 million rupees the previous year. Finance costs grew to 183.64 million rupees from 164.33 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), Chenab Limited's loss for the period before taxation stood at 278.23 million rupees, an improvement from the previous year's loss of 367.59 million rupees. Taxation provisions amounted to 23.37 million rupees, compared to 15.40 million rupees in 2023.

The overall loss for the period was reported at 301.60 million rupees, a decrease from 382.98 million rupees in 2023. The basic and diluted loss per share was 2.62 rupees, compared to 3.33 rupees for the same period last year.

Chenab Limited has stated that its quarterly report for the period ending March 31, 2024, will be transmitted through PUCARS separately within the specified time. The company will also distribute printed copies of the accounts to members of the Exchange in due course.