Lahore: Khalid Siraj Textile Mills Limited has announced its financial results for the year ended September 30, 2024, revealing continued financial challenges. The Board of Directors, in their meeting held on February 6, 2024, at 135-Upper Mall Lahore, Pakistan, decided against declaring any cash dividends, bonus shares, right shares, or any other entitlements and corporate actions for the shareholders.

The company's financial report shows no net sales for both the fiscal year 2024 and the previous year, 2023. Administrative and general expenses were reported at 0.54 million rupees for 2024, a slight decrease from 0.89 million rupees in 2023. The company also reported other operating expenses of 5.31 million rupees, down from 5.90 million rupees in the previous year.

Khalid Siraj Textile Mills Limited registered a loss before taxation of 5.85 million rupees, compared to a loss of 6.78 million rupees in the prior year. After accounting for taxation, which amounted to 1.32 million rupees, the company's loss after taxation stood at 4.54 million rupees, an improvement from the 5.32 million rupees loss recorded in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the company's total comprehensive loss for the period remained at 4.54 million rupees, mirroring the loss after taxation figures. The earnings per share (EPS) also indicated a negative trend, with a basic and diluted EPS of (0.42) for 2024, compared to (0.50) in 2023.

The company plans to transmit its quarterly report for the period ending September 30, 2024, through the Pakistan Unified Corporate Action Reporting System (PUCARS) within the specified timeframe. Khalid Siraj Textile Mills Limited, which operates in the textile sector, continues to face significant financial hurdles as reflected in its latest fiscal performance.