Karachi: In a recent board meeting held on October 30, 2024, Bilal Fibres Ltd. disclosed its financial results for the quarter ended September 30, 2024. The company reported a net loss of PKR 4.60 million, marginally higher than the loss of PKR 4.38 million recorded in the same period last year.

The company’s administrative expenses saw a slight reduction, totaling PKR 4.60 million for the quarter, compared to PKR 5.88 million in the previous year. This reduction in expenses was not sufficient to offset the broader financial challenges faced by the company. Notably, other income which previously contributed PKR 1.50 million to the company’s financials in 2023, was absent in the reported period.

The loss per share increased slightly from PKR 0.31 in September 2023 to PKR 0.33 in the same month in 2024, reflecting worsening financial conditions. The directors have resolved not to recommend a dividend for the period ended September 30, 2024, due to the accumulated losses.

The board has reclassified and rearranged the corresponding figures from the previous reporting period to ensure compliance and enhance clarity in the presentation of the financial results.