Karachi: Dadabhoy Sack Limited has reported a significant financial downturn for the fiscal year ended June 30, 2024. According to a document released to the Pakistan Stock Exchange, the company convened a board meeting on October 7, 2024, where the financial outcomes were discussed and the forthcoming annual general meeting was scheduled.

The financial statements reveal an operating loss before taxation of 3.63 million Rupees, an improvement from the previous year's loss of 4.20 million Rupees. Despite this slight improvement in operating conditions, the company's net loss after taxation expanded to 2.58 million Rupees, compared to 3.12 million Rupees in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the company disclosed that it would not be issuing any dividends, bonus, or right certificates this year, nor are there any planned corporate actions that might influence stock prices directly. The management attributes the deepened net loss to a combination of lower administrative costs and reduced tax liabilities for the period.

Additionally, the company announced that the share transfer books will be closed from October 21 to October 28, 2024, in preparation for the 41st Annual General Meeting scheduled for October 28, 2024, at the company's headquarters in Karachi. The annual report will be made available to shareholders and the public at least 21 days prior to the meeting.