Karachi, Hira Textile Mills Limited has disclosed its financial results for the first quarter ended September 30, 2022. The company's Board of Directors convened a meeting on August 28, 2023, in Lahore to review and recommend certain financial decisions.

Key Recommendations:

1. Cash Dividend: Nil

2. Bonus Shares: Nil

3. Right Shares: Nil

4. Any Other Entitlement / Corporate Action: Nil

5. Any Other Price-Sensitive Information: Nil

Financial Performance for 1st Quarter Ended September 30:

Net Sales: The company reported net sales of Rs. 40,160,000 for the first quarter, compared to Rs. 180,981,355 in the corresponding period of the previous year.

Gross Loss: Hira Textile Mills faced a gross loss of Rs. 57,551,610 for the first quarter, as opposed to a gross loss of Rs. 95,817,353 in the same period last year.

Other Income: The company generated other income amounting to Rs. 15,945,486, showcasing a slight increase from Rs. 13,996,800 in the previous year.

Profit / (Loss) Before Tax: The company reported a loss before tax of Rs. 66,868,781 for the quarter under review, compared to a loss of Rs. 131,427,920 in the same period last year.

Profit / (Loss) After Tax: Hira Textile Mills faced a loss after tax of Rs. 66,366,781, a decline from the loss of Rs. 134,142,640 reported in the same period of the previous year.

Earnings / (Loss) Per Share: The reported loss per share stood at Rs. (0.78), compared to a loss per share of Rs. (1.55) in the corresponding period of the previous year.

This announcement reflects the company's financial performance during the first quarter of the fiscal year 2022-2023. The Board's recommendations and the provided financial results indicate Hira Textile Mills' performance and strategic direction during the specified period. Further insights into the company's performance are available in the enclosed statement of profit or loss for the period ended September 30, 2022.