Karachi: Jagiauto Industries Limited has released its financial results for the quarter ended September 30, 2023. In a board meeting held on October 30, 2023, at 4:30 PM in Karachi, the company's directors approved the unaudited standalone and consolidated accounts, set to be submitted to shareholders and the Stock Exchange. Notably, the company has opted not to issue a cash dividend, bonus, or rights shares for this period.
For the unconsolidated results, Jagiauto reported a net turnover of Rs. 1,227,080,000, down from the previous year's Rs. 1,366,354,000. After accounting for costs and expenses, the operating profit was Rs. 12,049,000. However, after factoring in other expenses, income, finance costs, and taxation, the company reported a loss of Rs. 8,302,000 for the quarter. This translates to a loss of Rs. 0.23 per share, compared to earnings of Rs. 1.00 per share in 2022.
On the consolidated front, the company posted a net turnover of Rs. 1,753,483,000, seeing a decline from Rs. 2,187,049,000 in 2022. After deducting relevant expenses and costs, the operating profit stood at Rs. 49,909,000. Other expenses, income, and finance costs were factored in, leading to a profit before taxation of Rs. 29,130,000. The company reported a profit after taxation of Rs. 6,020,000, resulting in earnings of Rs. 0.17 per share, a contrast from the loss of Rs. 2.37 per share in the same quarter of the previous year.