Karachi: Tri-Pack Films Limited, a prominent player in the packaging industry, announced its financial results for the year ending December 31, 2024, showcasing a challenging fiscal year with recorded losses. The announcement was made following the Board of Directors meeting held on February 13, 2025, at the company’s Karachi office and via Zoom.

The company reported a total comprehensive loss of 414.44 million rupees for the year 2024, as revealed in the Statement of Changes in Equity. This follows a profit of 958.81 million rupees reported for the year 2023. The loss for 2024 was primarily driven by a decline in revenue amidst challenging market conditions.

Despite the financial setbacks, Tri-Pack Films Limited maintained its commitment to operational activities, generating cash flows from operations amounting to 2.78 billion rupees. However, the company experienced significant cash outflows in investing activities, totaling 5.00 billion rupees, primarily due to investments in property, plant, and equipment.

According to information available from the Pakistan Stock Exchange (PSX), the company did not declare any cash dividends, bonus shares, right shares, or any other entitlements for the fiscal year 2024. This decision reflects the company’s cautious approach in navigating the financial challenges it faced throughout the year.

The company’s financing activities were marked by a net cash inflow of 4.89 billion rupees, driven by obtaining long-term and short-term borrowings. Despite these efforts, the cash and cash equivalents at the end of the year stood at a negative 952.62 million rupees.

Tri-Pack Films Limited has scheduled its Annual General Meeting (AGM) for April 15, 2025, where shareholders will have the opportunity to discuss the financial results and the company’s future strategies. The share transfer books will be closed from April 9, 2025, to April 15, 2025, ensuring all transfers are processed in time for the AGM.

The company remains committed to transparency and will disseminate its Annual Report for the year ended December 31, 2024, through PUCARS and its official website within the stipulated timeframe. As Tri-Pack Films Limited navigates these financial challenges, it continues to explore strategies to enhance its market position and financial stability in the upcoming fiscal year.