Karachi: Bolan Castings Limited has announced its unaudited financial results for the half-year ending December 31, 2024, revealing a significant improvement in profitability despite a challenging economic environment. The company reported a net profit of 115.79 million rupees, a substantial turnaround from a loss of 35.42 million rupees in the corresponding period of the previous year.

On December 31, 2024, Bolan Castings Limited's financial statements highlighted a total asset base of 872.22 million rupees, down from 987.94 million rupees as of June 30, 2024. Share capital stands at 114.73 million rupees, with general and other reserves contributing to a total equity of 303.87 million rupees. The company also reported non-current liabilities of 60.06 million rupees.

Revenue for the half-year soared to 1.66 billion rupees, compared to 854.98 million rupees in the same period in 2023. The cost of sales was recorded at 1.36 billion rupees, resulting in a gross profit of 301.02 million rupees. The company also managed to reduce its distribution expenses to 37.93 million rupees and administrative expenses to 46.89 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), Bolan Castings Limited's operating profit for the half-year ending December 31, 2024, reached 210.96 million rupees, a notable improvement over the previous year's loss of 3.13 million rupees. However, finance costs increased to 39.61 million rupees.

The earnings per share for the half-year stood at 10.09 rupees, up from a loss per share of 3.09 rupees in the previous year. The financial results indicate that Bolan Castings Limited has effectively navigated market challenges, achieving robust financial growth and improved profitability.