Karachi: Blessed Textiles Limited has released its financial results for the period ending December 31, 2024, showing a mix of financial outcomes. The company’s total equity and liabilities amounted to 21.79 billion rupees, compared to 23.03 billion rupees at the close of June 2024.

The equity section reveals an authorized share capital of 65.00 million rupees with an issued share capital remaining constant at 64.32 million rupees. The general reserve remained steady at 7.00 billion rupees, while loans from directors and sponsors were unchanged at 102.66 million rupees. Notably, retained earnings decreased from 915.58 million rupees in June 2024 to 767.34 million rupees in December 2024. Total equity stood at 7.93 billion rupees, a decline from the 8.08 billion rupees reported in June.

In the liabilities section, non-current liabilities decreased from 4.06 billion rupees to 3.77 billion rupees. Long-term borrowings declined from 3.71 billion rupees to 3.39 billion rupees. Employee retirement benefits increased to 332.53 million rupees from 298.18 million rupees. Current liabilities demonstrated a reduction as well, standing at 10.09 billion rupees from 10.89 billion rupees in June. Short-term borrowings saw a decrease from 6.97 billion rupees to 6.01 billion rupees.

The assets of the company also reflected changes. Non-current assets were reported at 7.87 billion rupees, down from 7.97 billion rupees. Current assets decreased to 13.92 billion rupees from 15.07 billion rupees. A significant reduction was observed in stock in trade, which fell from 8.90 billion rupees to 6.94 billion rupees. Trade receivables increased to 3.80 billion rupees from 2.95 billion rupees.

According to information available from the Pakistan Stock Exchange (PSX), the revenue from contracts with customers for the six-month period ending December 2024 was 15.99 billion rupees, up from 15.38 billion rupees in the previous year. The gross profit for the same period was 989.76 million rupees compared to 574.14 million rupees in December 2023. However, the company reported a loss after income taxes of 148.24 million rupees, an improvement from a loss of 1.15 billion rupees in the previous year.

Cash flows from operating activities generated 1.15 billion rupees, a decrease from 5.20 billion rupees in the previous year. The cash flows from investing activities showed a net usage of 293.01 million rupees. Financing activities resulted in a net usage of 1.23 billion rupees, compared to 5.16 billion rupees in the previous year. The company reported a net decrease in cash and cash equivalents of 371.73 million rupees, ending the period with 574.13 million rupees in cash and cash equivalents.