Faisalabad: Chenab Limited has reported a robust increase in sales turnover for the third quarter of the financial year 2023-2024, ending March 31, 2024, according to the company's un-audited financial statement. The sales turnover rose to Rs. 2,405.345 million, marking a 74.37 percent increase from the Rs. 1,379.085 million reported in the previous quarter.

The financial report also highlights a reduction in net loss after tax, which decreased to Rs. 301.605 million from Rs. 382.983 million incurred during the same period last year. This improvement in the bottom line is attributed to the company's local and export sales, as well as toll manufacturing activities.

According to information available from the Pakistan Stock Exchange (PSX), Chenab Limited has been undergoing a series of strategic financial restructurings. A significant milestone in this process was a Scheme of Arrangement with banks, completed on September 14, 2021, and the subsequent reversal of a winding-up order by the Lahore High Court on October 29, 2021. These measures have allowed the management to gradually enhance the company's operational results despite facing challenges such as high energy costs, increased markup rates, and rising raw material and production costs.

The company remains committed to achieving its objectives by leveraging all available resources. The directors have expressed their gratitude towards financial institutions for their support in the company's revival and acknowledged the dedication of employees in their service to Chenab Limited.