Lahore: Pakistan Engineering Company Limited has reported its financial results for the three-month period ending September 30, 2024, highlighting a continued financial downturn despite an increase in sales. The report was announced following a board meeting held on June 6, 2026, in Lahore, with remote participation through Zoom Workplace.

The company's sales for the quarter reached 7,208,000 rupees, up from 6,300,000 rupees in the same period last year. However, the cost of sales increased significantly to 14,802,000 rupees from 11,751,000 rupees, resulting in a gross loss of 7,594,000 rupees, compared to 5,451,000 rupees in the previous period.

Operating expenses further impacted the company's financial health. Selling and distribution expenses remained constant at 2,000 rupees, whereas administrative expenses saw a sharp increase to 111,701,000 rupees from 10,735,000 rupees. Other operating charges amounted to 12,008,000 rupees, while operating income was reported at 506,000 rupees. Consequently, the company reported an operating loss of 19,096,000 rupees, improving from 31,765,000 rupees in the same quarter last year.

Finance costs were minimal at 15,000 rupees, a reduction from 3,339,000 rupees, while the loss before taxation and levies stood at 19,111,000 rupees, a significant improvement from 35,104,000 rupees last year. After accounting for a levy of 90,000 rupees and taxation of 4,768,000 rupees, the company reported a net loss after taxation of 23,969,000 rupees, compared to a loss of 40,444,000 rupees in the same quarter of the previous year.

The basic and diluted loss per share improved to 4.21 rupees from 7.11 rupees. Despite these financial challenges, the company announced no cash dividend, bonus shares, right shares, or any other entitlements or corporate actions.

According to information available from the Pakistan Stock Exchange (PSX), the company's financial position as of September 30, 2024, showed total assets of 39.65 billion rupees, a slight decrease from 39.67 billion rupees as of June 30, 2024. Share capital remained constant at 56,902,000 rupees, while the accumulated loss increased to 2.17 billion rupees from 2.15 billion rupees.

The quarterly report for the period ended September 30, 2024, is expected to be transmitted through the Pakistan Unified Corporate Action Reporting System (PUCARS) in due course, in compliance with the Securities Act, 2015.