Karachi: In a recent board meeting on October 22, 2024, Lalpir Power Limited disclosed its financial outcomes for the third quarter ended September 30, 2024. The meeting, held at Lahore, resulted in no declaration of cash dividends, bonus shares, right shares, or other entitlements.

The company reported revenues from contracts with customers reaching PKR 2.84 billion for the quarter, a decrease from the PKR 8.07 billion recorded in the same period last year. Cost of sales was significantly lower at PKR 859.15 million compared to PKR 6.72 billion a year ago, leading to a gross profit of PKR 1.98 billion, down from PKR 1.35 billion.

Operating expenses, including administrative and other expenses, totaled PKR 93.66 million, down from PKR 60.45 million last year. However, other income rose to PKR 6.93 million from PKR 10.71 million. According to information available from the Pakistan Stock Exchange (PSX), Lalpir Power's profit from operations was PKR 1.90 billion, a reduction from the PKR 1.30 billion reported in the prior year.

Finance costs for the quarter were recorded at PKR 219.96 million, while the profit before income tax reached PKR 1.68 billion, a decrease from PKR 1.06 billion in the previous year's third quarter. After taxes, the company's profit stood at PKR 1.68 billion.

For the nine months ended September 30, 2024, the company achieved a total comprehensive income of PKR 4.73 billion, with earnings per share rising to PKR 12.47 from PKR 8.56 in the same period last year.