Karachi: A recently released condensed interim statement of financial position has revealed significant movements in various financial metrics for the period ending September 30, 2024. The statement, which remains unaudited, highlights changes in both assets and liabilities, as well as cash flow activities, over the period from June to September 2024.
According to the interim statement, total assets rose modestly from the end of June 2024 to approximately 4.45 billion rupees by the end of September 2024. Non-current assets showed little variation, maintaining a steady position around 3.37 billion rupees, primarily driven by consistent levels in property, plant, and equipment as well as long-term deposits.
Current assets displayed notable activity, with trade debts experiencing a very large or significant move, increasing to 105.68 million rupees from 38.16 million rupees. Stock-in-trade saw a big move, decreasing to 218.54 million rupees, reflecting changes in inventory management and sales cycles. Cash and bank balances witnessed a moderate move, increasing to 52.47 million rupees.
Equity and liabilities shifted significantly over the period. The share capital and reserves saw a decline, primarily due to accumulated losses, which increased from the previous quarter. The total equity fell to 1.03 billion rupees. Non-current liabilities decreased to 138.29 million rupees, with a big move in long-term finances as they were reduced over the period.
According to information available from the Pakistan Stock Exchange (PSX), a very large or significant move was observed in current liabilities, which increased to 3.28 billion rupees from 3.13 billion rupees. Contract liabilities experienced a very large or significant move, escalating from 30.02 million rupees to 215.97 million rupees. A big move was noted in amounts due to associates, rising to 303.64 million rupees.
Operating cash flows before movement in working capital shifted from -48.97 million rupees due to adjustments for non-cash items such as depreciation and finance costs. After accounting for changes in working capital, cash generated from operations became positive at 120.28 million rupees, showcasing an improvement from previous periods.
The financial statement, dated August 28, 2025, reflects the company’s strategic adjustments in managing both its current assets and liabilities, contributing to a positive operating cash flow in the latest quarter. These changes fall within the designated market category, providing insights into the company’s operational and financial strategies amidst a fluctuating economic environment.