Karachi: Mubarak Textile Limited has released its financial results for the half-year period ending December 31, 2024, revealing continued financial challenges for the company. The Board of Directors announced the results following a meeting held on February 20, 2025, at 11:00 a.m.
The textile company reported a loss before taxation of 903.32 million rupees for the six-month period from July 1, 2024, to December 31, 2024. This represents a marked decline compared to the loss of 1.47 billion rupees reported in the corresponding period the previous year. For the quarter ending December 31, 2024, the loss before taxation was 386.16 million rupees, compared to a loss of 465.88 million rupees in the same quarter of the previous year.
Mubarak Textile's revenue streams remained stagnant, with processing receipts and sales figures undisclosed for both quarters. The cost of goods sold also remained unreported, resulting in an undisclosed gross profit for the periods in question.
Administrative and general expenses for the half-year ending December 31, 2024, amounted to 4.86 million rupees, down from 5.42 million rupees in the corresponding period the previous year. These expenses contributed to an operating loss of 4.86 million rupees, compared to a loss of 5.42 million rupees in the previous year.
Other income for the six-month period was reported at 5.07 million rupees, an increase from the 4.65 million rupees reported in the corresponding period the previous year. The company’s finance cost was minimal, recorded at 29 rupees for the half-year period.
According to information available from the Pakistan Stock Exchange (PSX), Mubarak Textile Limited's Board decided not to issue any cash dividends, bonus shares, or right shares for the reported period.
The company's taxation for the half-year period was reported at 1.12 billion rupees, compared to 697.28 million rupees in the corresponding period the previous year. Consequently, the company reported a net loss after taxation of 0.17 million rupees for the six-month period ending December 31, 2024, compared to a net loss of 0.27 million rupees in the same period the previous year. For the quarter ending December 31, 2024, the net loss after taxation was 0.07 million rupees, compared to a net loss of 0.09 million rupees in the same quarter of the previous year.
These financial results underscore the ongoing financial difficulties faced by Mubarak Textile Limited in the designated market category.