Karachi: Liven Pharma Limited has released its unaudited condensed interim financial statements for the six-month period ending December 31, 2024, reporting robust financial results. The company has prepared these financial statements in compliance with the International Accounting Standard (IAS) 34 'Interim Financial Reporting', and the director report adheres to section 227 of the Companies Act, 2017, along with Chapter XII of the Listed Companies (Code of Corporate Governance) Regulations, 2019.
The board of directors of Liven Pharma Limited consists of seven members, with six male directors and one female director. The composition includes two independent directors, Mr. Ahmad Shoaib Hashmi and Mr. Syed Raza Abbass, three executive directors, Mr. Atif Hussain, Mr. Umar Shami, and Mr. Usman Shami, and two non-executive directors, Mr. Kaashif Hussain and Mr. Firdous Shakir.
During the reported period, Liven Pharma Limited achieved a turnover of PKR 106 million. The company's gross profit reached PKR 80.29 million, reflecting successful cost management and improved production efficiencies. Profit after tax was recorded at PKR 119.233 million, a figure bolstered by post-merger financial management, reinforcing the firm's capacity for sustainable profitability. According to information available from the Pakistan Stock Exchange (PSX), Liven Pharma is committed to enhancing its financial position through growth opportunities, acquisitions, and optimized operations.
Looking forward, Liven Pharma Limited remains optimistic about future growth prospects, underpinned by strategic initiatives and conducive market conditions. The company's financing costs are expected to decrease significantly due to a recent reduction in the KIBOR rate, which will enhance profitability and cash flow management. Liven Pharma is also preparing for expansion into the commercial market, aiming to unlock new revenue streams and bolster market presence.
The pharmaceutical sector continues to experience steady demand, and Liven Pharma's commitment to innovation, quality, and operational efficiency positions it for sustained growth. The management is focused on capitalizing on emerging opportunities, enhancing shareholder value through potential partnerships with multinational companies, and acquiring an API manufacturing plant to drive dynamic growth.
Liven Pharma Limited remains grateful for the ongoing support from regulatory authorities, shareholders, customers, vendors, employees, and other stakeholders. The company is classified under the designated market category of pharmaceuticals.