Karachi: Kohat Textile Mills Limited released its condensed interim statement of financial position, revealing an incremental growth in its assets and equity as of December 31, 2024. The statement, which is unaudited, shows an increase in both non-current and current assets, reaching a total of 8.77 billion rupees, up from 8.32 billion rupees as of June 30, 2024.

The non-current assets of the company rose to 5.36 billion rupees from 5.01 billion rupees, primarily driven by an increase in property, plant, and equipment which now stands at 5.34 billion rupees compared to 4.99 billion rupees in June. The long-term investments and loans remained stable at 4.89 million rupees and 1.44 million rupees, respectively.

Current assets also showed an upward trend, increasing to 3.41 billion rupees from 3.30 billion rupees. Notable changes include a rise in stock-in-trade to 1.56 billion rupees from 1.36 billion rupees, and an increase in cash and bank balances to 23.48 million rupees from 9.62 million rupees. However, trade debts slightly decreased from 1.76 billion rupees to 1.69 billion rupees.

On the equity and liabilities side, the company's total equity reached 4.03 billion rupees, up from 3.91 billion rupees. This increase was supported by a rise in unappropriated profit to 1.26 billion rupees from 1.14 billion rupees. The surplus on revaluation of property, plant, and equipment slightly decreased to 2.56 billion rupees from 2.56 billion rupees.

According to information available from the Pakistan Stock Exchange (PSX), the non-current liabilities experienced an increase, totaling 1.30 billion rupees from 1.11 billion rupees. This rise is attributed to an increase in long-term financing, which grew to 761.71 million rupees from 588.69 million rupees.

Current liabilities rose to 3.44 billion rupees from 3.29 billion rupees. This was largely due to an increase in short-term borrowings, which climbed to 2.30 billion rupees from 1.92 billion rupees. Trade and other payables, however, decreased to 794.46 million rupees from 944.82 million rupees.

The company's financial performance for the six-month period ending December 31, 2024, showed a profit of 138.59 million rupees, compared to 90.30 million rupees for the same period in 2023. This reflects a notable improvement in profitability, with a final cash dividend of 1.00 rupee per share disbursed for the year ended June 30, 2024.

The comprehensive income for the period also included the realisation of surplus on revaluation of property, plant, and equipment, contributing to the company's overall financial health.