Karachi: Pakistan International Bulk Terminal Limited (PIBT) has reported no dividends and significant losses in its financial outcomes for the quarter ended September 30, 2024. According to the detailed financial statements issued to the Pakistan Stock Exchange (PSX), the company experienced a net loss of 320.89 million rupees, contrasting sharply with a comprehensive income of 577.38 million rupees in the same quarter the previous year.

The financial disclosure, sent to the General Manager of the PSX, indicated that the Board of Directors, in their meeting on October 22, 2024, decided against distributing cash dividends, bonus shares, or any rights shares. According to information available from the Pakistan Stock Exchange (PSX), this marks a notable shift from the company’s previous performance metrics.

PIBT's revenue for the quarter was noted at 2.32 billion rupees, down significantly from 4.37 billion rupees year-on-year. The cost of services consumed the bulk of revenue, amounting to 2.07 billion rupees. The company also reported a finance cost of 432.56 million rupees and an exchange loss of 11.86 million rupees, further impacting the bottom line.

The report also highlighted that other income decreased by about 5 million rupees, and the company faced a taxation expense of 15.96 million rupees during the quarter. These figures culminated in a loss per share of 0.18 rupees, as opposed to an earnings per share of 0.32 rupees during the corresponding quarter of the previous year.

In summary, PIBT’s latest quarterly results have pointed to considerable challenges, with significant drops in revenue and profitability. The full details of the financial results for the September-ending quarter are set to be published in compliance with applicable regulatory requirements.