Lahore: Descon Oxychem Limited has reported financial results for the six-month period ending December 31, 2024, with notable increases in both total equity and liabilities, according to recently released figures. The company's financial statements, disclosed on October 28, 2024, depict a period of growth in equity, juxtaposed with a rise in liabilities.

The un-audited statements reveal that the company’s total equity and liabilities have reached 4.49 billion rupees, compared to 4.15 billion rupees as of June 30, 2024. This increase is primarily attributed to a rise in unappropriated profit and trade debts.

The issued, subscribed, and paid-up capital remains unchanged at 1.75 billion rupees, while the share premium stands at 3.02 million rupees. Unappropriated profit has increased to 1.61 billion rupees from 1.46 billion rupees, marking a significant growth in equity. Furthermore, the translation reserve showed a slight decline to negative 879 thousand rupees from negative 467 thousand rupees.

Non-current liabilities reported a slight increase, amounting to 306.66 million rupees. Long-term financing decreased to 75.57 million rupees, while deferred tax liabilities increased to 222.89 million rupees. Current liabilities have seen a substantial rise to 825.26 million rupees, influenced by augmented trade and other payables, which climbed to 675.05 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), Descon Oxychem Limited's financial performance indicates an increase in total assets, which rose to 4.49 billion rupees from 4.15 billion rupees in June 2024. The growth in current assets, particularly notable in trade debts, which surged to 320.07 million rupees from 175.65 million rupees, and short-term investments, which escalated to 676.47 million rupees, have contributed to this rise.

The comprehensive income for the period reflected a net profit of 495.99 million rupees, despite a reported comprehensive loss of 412 thousand rupees due to translation reserves. The company declared a final dividend of 20% for the year ended June 30, 2024, amounting to 350.06 million rupees.

Descon Oxychem Limited’s financial results exemplify the company’s robust earnings performance and strategic asset management amidst growing liabilities, as the firm continues its operations in the designated market category of chemical manufacturing.