Islamabad: Arpak International Investments Limited has announced its financial results for the fiscal year ended June 30, 2024, revealing an increase in income but also substantial losses after tax. According to the details approved by the Board of Directors on October 3, 2024, the company reported a mixed financial performance.

The company’s total income for the year was 21.86 million, up from 15.78 million in the previous year, marking a growth in revenue. However, operating and general expenses also rose to 15.06 million compared to 17.31 million reported in 2023. This resulted in an operating profit of 6.81 million, a recovery from the previous year's loss of 1.53 million.

Bank charges for the year slightly decreased to 0.005 million from 0.024 million in 2023. A notable performance came from shares of profit from associated companies, netting 19.80 million, up from 18.42 million the previous year. However, the company faced a significant provision for impairment of investment in an associated company amounting to 273.37 million, leading to a net loss before taxation of 247.39 million.

After accounting for taxation of 2.17 million, the company’s loss after taxation stood at 249.56 million, a severe downturn compared to a loss of 76.30 million in 2023. The loss per share also escalated sharply to 62.39 from 19.08.

According to information available from the Pakistan Stock Exchange (PSX), the annual general meeting of Arpak International will be convened on October 25, 2024, at King’s Arcade, Islamabad. Shareholders are poised to discuss these results and the future direction of the company amidst its challenging financial standing.