Lahore: Descon Oxychem Limited has released its financial results for the half-year period ending December 31, 2024, revealing significant changes in various financial metrics compared to previous periods. The company reported a net profit of 458.94 million rupees for the period, marking a substantial increase from the 265.95 million rupees recorded in the same period of the previous year.
The report highlights an increase in total equity and liabilities, which rose to 4.49 billion rupees as of December 31, 2024, compared to 4.15 billion rupees at the end of June 2024. The company maintained its issued, subscribed, and paid-up capital at 1.75 billion rupees, with a consistent share premium of 3.02 million rupees. The unappropriated profit showed an increase, reaching 1.61 billion rupees from 1.46 billion rupees in June 2024.
Non-current liabilities slightly increased to 306.66 million rupees from 301.29 million rupees, while current liabilities rose to 825.26 million rupees from 629.71 million rupees at the end of June 2024. The increase in current liabilities is primarily attributed to trade and other payables, which rose to 675.05 million rupees from 588.33 million rupees.
On the assets side, non-current assets decreased to 1.88 billion rupees from 2.03 billion rupees, while current assets increased significantly to 2.61 billion rupees from 2.11 billion rupees. Notable changes in current assets include a rise in short-term investments to 676.47 million rupees from 140.06 million rupees and an increase in trade debts to 320.07 million rupees from 175.65 million rupees.
The company's cash flow from operating activities was reported at 901.41 million rupees, a notable improvement from the negative 364.70 million rupees recorded in the previous year. According to information available from the Pakistan Stock Exchange (PSX), the company’s cash and cash equivalents at the end of the period stood at 316.85 million rupees, up from 192.31 million rupees at the end of the same period last year.
In terms of financing activities, Descon Oxychem Limited reported a net cash outflow of 259.98 million rupees, consistent with the 259.21 million rupees outflow in the corresponding period last year. The company repaid 13.45 million rupees in long-term finances and paid dividends amounting to 350.06 million rupees for the year ended June 30, 2024.
Descon Oxychem Limited operates in the chemicals sector, focusing on providing hydrogen peroxide solutions for various industries. The company's financial results reflect its operational strategies and market conditions affecting its performance during the half-year period.