Karachi: Dewan Automotive Engineering Limited announced its financial results for the third quarter ending March 31, 2025, revealing sustained financial challenges with no recommended dividends or shares for its stakeholders. The results were disclosed following a board meeting held on April 28, 2025, in Karachi.
The company reported that there will be no cash dividend, bonus shares, right shares, or any other corporate entitlements for the period. There is also no price-sensitive information to report for the third quarter or the nine months ending March 31, 2025.
The un-audited financial results highlight a gross loss of 9.97 million rupees for the nine months, compared to a marginally higher gross loss of 10.50 million rupees during the same period in 2024. For the third quarter specifically, the gross loss stood at 3.32 million rupees, a slight improvement from last year's 3.42 million rupees.
Operating expenses, which include administrative costs, were recorded at 2.51 million rupees for the nine months, up from 1.82 million rupees in the previous year. These expenses remained consistent at 0.78 million rupees for the quarter when compared to the previous year. The operating loss for the nine months was reported at 12.48 million rupees, slightly increased from 12.32 million rupees in the prior year, while the quarter saw a decrease to 4.11 million rupees from 4.21 million rupees.
Finance costs significantly impacted the company's bottom line, amounting to 24.86 million rupees for the nine months, a notable reduction from 49.14 million rupees in the previous year. The finance cost for the third quarter was 8.29 million rupees, down from 16.30 million rupees in 2024.
According to information available from the Pakistan Stock Exchange (PSX), the company's loss before taxation for the nine months was 36.51 million rupees, improving from a larger loss of 60.63 million rupees in the previous year. The loss before taxation for the third quarter was 12.12 million rupees, compared to 20.23 million rupees in the same quarter of the previous year.
After accounting for net taxation, the company reported a total loss of 35.38 million rupees for the nine months, down from 59.40 million rupees last year. The quarterly loss was 11.74 million rupees, in comparison to 19.52 million rupees recorded in the previous year. The basic and diluted loss per share was reported at 1.65 rupees for the nine months and 0.55 rupees for the quarter.
The company announced that the third quarterly report for the period ending March 31, 2025, will be transmitted through PUCARS separately within the specified time.