Lahore: Diamond Industries Limited has announced its financial results for the quarter ended September 30, 2024, revealing no interim cash dividends, bonus shares, or right shares will be issued to shareholders. The Board of Directors, during a meeting held on October 25, 2024, in Lahore, reported a net loss for the quarter, with earnings per share decreasing to Rs. (0.42) from Rs. (0.58) in the same quarter of the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the company's financial performance for the quarter showed a consistent loss across various financial indicators. The interim cash dividend was declared at Rs. NIL per share, with no bonus shares recommended in proportion to shares held. Additionally, no right shares are to be issued, and the Board did not propose any other corporate actions or price-sensitive information.
The income statement indicated that Diamond Industries sustained a gross loss, with the cost of raw material sold and other operating expenses outweighing the company's net sales. Administrative and selling expenses contributed to the overall losses, with no substantial other operating income reported to offset these costs. The company also faced a finance cost and shared a loss from associated companies, resulting in a profit before taxation of negative Rs. 3,789,220—a slight improvement from the previous year's loss of Rs. 5,221,620.
The taxation section of the financial statement showed no current or deferred tax, leading to a profit after taxation that mirrored the pre-tax loss. The company's earnings per share, as a result, reflected a decline from the previous year's figures.
The financial statement, which remains unaudited, forms a crucial part of Diamond Industries' quarterly report, set to be transmitted through PUCARS within the required timeframe. Shareholders listed in the Register of Members by the specified date will be eligible for any future entitlements, although none have been announced for this quarter. The company's share transfer books are scheduled to close as per the forthcoming notice.