SIALKOT: Grays Leasing Limited, a company listed on the Pakistan Stock Exchange (PSX), has announced its financial results for the half-year and quarter ending December 31, 2024. The Board of Directors, in a meeting held on February 25, 2025, at the company's branch office on Roras Road, Sialkot, chose not to recommend any cash dividends, bonus shares, or right shares for this period.
The company's income from lease operations stood at 12.04 million rupees for the half-year ended December 2024, compared to 12.81 million rupees for the same period in 2023. In contrast, the income from lease operations for the quarter ended December 2024 was 5.76 million rupees, a decrease from 7.17 million rupees in the previous year. Other income for the half-year was reported at 1.18 million rupees, down from 1.55 million rupees in 2023. For the quarter, other income was 0.50 million rupees, compared to 1.10 million rupees in the same quarter last year.
The total expenditure for the half-year amounted to 9.20 million rupees, a slight decrease from 9.33 million rupees during the previous year. Quarterly expenditure was 5.11 million rupees, down from 5.43 million rupees the year prior. Profit before taxation for the half-year was reported at 4.02 million rupees, down from 5.04 million rupees in 2023, while the quarterly profit before taxation decreased to 1.15 million rupees from 2.84 million rupees in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the company's profit after taxation for the half-year was 4.04 million rupees, in contrast to a loss of 6.13 million rupees in the same period last year. For the quarter, the profit after taxation was 1.66 million rupees, compared to a loss of 7.95 million rupees in the previous year. The basic and diluted earnings per share for the half-year were 0.188 rupees, compared to a loss of 0.285 rupees last year.
The condensed interim statement of financial position as of December 31, 2024, indicates total assets of 289.91 million rupees, down from 298.12 million rupees as of June 30, 2024. Current assets were 152.64 million rupees, while non-current assets stood at 137.26 million rupees. Liabilities were reported at 214.71 million rupees, a decrease from 226.96 million rupees on June 30, 2024. Current liabilities accounted for 126.72 million rupees, while non-current liabilities were 87.99 million rupees. The net assets as of December 31, 2024, were 75.19 million rupees, up from 71.15 million rupees as of June 30, 2024.
The company's issued, subscribed, and paid-up share capital remained consistent at 215.00 million rupees, with an authorized share capital of 350.00 million rupees. The accumulated losses were reduced to 199.06 million rupees from 203.10 million rupees. Shareholders' equity rose to 75.19 million rupees from 71.15 million rupees as of June 30, 2024.
The company has indicated that the quarterly report for the period ending December 31, 2024, will be transmitted through PUCARS separately within the specified time.