Lahore: Khyber Textile Mills has reported substantial losses in its condensed interim statement of profit or loss and other comprehensive income for the half-year period ending December 31, 2024. The textile company recorded a net loss of 6.32 billion rupees for the period, compared to a loss of 4.72 billion rupees in the corresponding period of 2023.

The company's financial report outlined a gross loss of 515.81 million rupees for the half-year, alongside operating losses which rose to 7.37 billion rupees from 5.83 billion rupees in the previous year. The report also detailed administrative, selling, and general expenses totaling 12.00 billion rupees for the half-year, a rise from 8.55 billion rupees in 2023.

Despite these losses, Khyber Textile Mills reported other incomes, including rent and agricultural income, amounting to 4.63 million rupees. Rent income contributed 4.41 million rupees, while agricultural income accounted for 220,110 rupees. Financial expenses were minimal at 590 rupees.

The textile company’s loss before taxation stood at 7.37 billion rupees, a notable increase from the 5.83 billion rupees recorded in the previous year. Taxation figures included a deferred tax of 1.05 billion rupees, resulting in a net loss for the period of 6.32 billion rupees.

According to information available from the Pakistan Stock Exchange (PSX), the earnings per share for Khyber Textile Mills reflected the financial downturn, with a basic and diluted loss of 5.15 rupees per share compared to a loss of 3.84 rupees per share in the corresponding period of the previous year.

The financial results place Khyber Textile Mills in a challenging position within the designated market category, as the company continues to navigate the financial hurdles impacting its operations and overall profitability.