Karachi, Agriauto Industries Limited has disclosed its unaudited financial results for the first quarter and nine months ending March 31, 2024. The announcement was made following a board meeting held on April 22, 2024, in Karachi where the financial statements were approved for submission to shareholders and the Pakistan Stock Exchange.

The company reported a significant downturn in its consolidated financial performance for the nine-month period ended March 31, 2024, with a revenue decrease from Rs 6,458,760,000 in the previous year to Rs 5,834,075,000. The consolidated loss after taxation widened to Rs 313,589,000 from a loss of Rs 271,565,000 in the corresponding period last year. The basic and diluted loss per share also increased from Rs 7.54 to Rs 8.71.

For the three-month period ended March 31, 2024, the consolidated net revenue saw an improvement at Rs 2,453,808,000 compared to Rs 1,980,910,000 in the same quarter of the previous year. However, the period still ended with a loss after taxation of Rs 136,599,000, worsening from Rs 111,463,000 a year ago.

On the unconsolidated basis, Agriauto Industries' nine-month revenue slightly increased from Rs 4,071,921,000 in 2023 to Rs 4,085,592,000 in 2024. Despite the marginal increase in revenue, the company's unconsolidated loss after taxation deepened from Rs 100,954,000 to Rs 191,611,000, with the basic and diluted loss per share rising from Rs 2.80 to Rs 5.32.

For the quarterly performance on an unconsolidated basis, the company's revenue increased to Rs 1,673,184,000 from Rs 1,231,925,000 in the previous year's same quarter. Nevertheless, the loss after taxation still grew from Rs 142,705,000 to Rs 98,732,000.

The Board of Directors did not recommend any cash dividends, bonus issues, or rights shares for the period. The quarterly report will be submitted separately through PUCARS within the stipulated timeframe.