Karachi: Dewan Khalid Textile Mills Limited has reported its financial results for the half-year period ending December 31, 2024. The company, during a board meeting held on August 11, 2026, declared no dividends, bonus shares, rights shares, or any other entitlements for its shareholders, citing ongoing financial challenges.
The financial statements revealed a gross loss of 15,707,474 rupees for the half-year period, compared to a slightly higher gross loss of 16,089,363 rupees during the same period in 2023. The operating loss also decreased marginally to 19,700,612 rupees from 19,877,928 rupees in the previous year. The quarter ending December 2024 showed a gross loss of 7,844,147 rupees, compared to 7,586,519 rupees for the same quarter in 2023.
Operating expenses, specifically administrative and general expenses, increased to 3,993,138 rupees from 3,788,565 rupees year-over-year, while the quarter saw an increase to 2,198,235 rupees from 1,950,985 rupees. Finance costs saw a significant decrease to 561 rupees from 4,695,348 rupees, contributing to an overall improvement in the financial cost structure.
The company reported no sales revenue for the periods under review, both for the half-year and the quarter, indicating a challenging market environment. Other income, which was absent in the current period, had previously contributed 2,532,528 rupees in the half-year of 2023.
According to information available from the Pakistan Stock Exchange (PSX), Dewan Khalid Textile Mills Limited has shown a big move in its loss after taxation figure, with a reduction from 20,025,963 rupees in the half-year of 2023 to 17,924,580 rupees in 2024. The quarter ending December 2024 marked a loss after taxation of 9,154,647 rupees, improving from 12,937,583 rupees in the corresponding quarter of the previous year.
The loss per share for the half-year stood at 1.87 rupees, down from 2.08 rupees, indicating a moderate move. The quarter results reflected a loss per share of 0.96 rupees, compared to 1.35 rupees in the previous year’s same quarter.
The company's ongoing financial challenges are reflected in its decision not to declare any dividends or bonus shares, as it attempts to navigate through a difficult financial landscape.