Lahore: D.S. Industries Limited has announced its financial results for the half-year ending December 31, 2024, revealing a notable increase in profit after taxation despite a challenging operational environment. The Board of Directors, convening at the company's registered office in Lahore on February 25, 2025, reported a profit after taxation of 7.76 million, compared to 2.00 million for the same period in the previous year.

According to the financial results, sales for the half-year period amounted to 3.09 million, a decline from the previous year's 16.27 million. This decrease was reflected in the cost of sales, which dropped to 3.16 million from 11.16 million. Consequently, the company reported a gross loss of 79,505, a significant reversal from last year's gross profit of 5.11 million.

Administrative, selling, and other expenses were reported at 7.19 million, compared to 14.16 million in the previous year. Despite these expenses, D.S. Industries Limited managed to achieve an operating profit of 227,822, down from 924,907 in the same period last year.

The company’s share of profit from associates significantly contributed to its financial performance, amounting to 8.60 million, up from 1.44 million. According to information available from the Pakistan Stock Exchange (PSX), the company's profit before taxation rose sharply to 7.80 million from the previous 2.20 million, while profit after taxation surged to 7.76 million from 2.00 million.

The Board of Directors decided against declaring any cash dividends, bonus shares, or right shares. The earnings per share, both basic and diluted, stood at 0.09, compared to 0.02 in the corresponding period of the previous year.

The Auditor's report presented a qualification regarding the recognition of deferred tax assets on unused losses. However, the company maintains confidence in its recognition of these deferred tax assets.

In terms of cash flows, the company reported net cash used in operating activities at 415,461, a significant improvement from the previous year's 2.24 million. The investing activities generated 4.71 million, reversing a net cash outflow of 2.61 million in the previous year, primarily due to proceeds from the disposal of property, plant, and equipment. Financing activities witnessed a net cash outflow of 829,860, compared to a net inflow of 5.31 million in the prior year.

The cash and cash equivalents at the end of the period stood at 72.69 million, compared to 80.01 million at the end of the corresponding period last year, reflecting the company's enhanced liquidity position amidst operational challenges.