Islamabad: Power Holding Limited has disclosed a decrease in its financial assets and net profit for the three-month period ending September 30, 2021, compared to the same period last year. The company's unaudited financial statement reveals a decline in both non-current and current assets, as well as a reduction in net profit after taxation.

The statement of financial position shows that Power Holding Limited's non-current assets fell to 681,284.28 million Pakistani Rupees from 718,254.26 million Pakistani Rupees as recorded on June 30, 2021. This reduction primarily stems from the finance facilities' principal portion receivable, which decreased from 718,253.45 million to 681,276.99 million Pakistani Rupees.

According to financial records, the company's current assets also saw a decrease, dropping from 348,514.61 million Pakistani Rupees in June 2021 to 377,006.83 million Pakistani Rupees by the end of September. Notably, the current portion of finance facilities receivable increased to 376,763.13 million Pakistani Rupees, up from 348,289.34 million Pakistani Rupees at the end of the previous quarter.

The company's total assets stood at 1,058,291.11 million Pakistani Rupees as of September 30, 2021, slightly down from 1,066,768.87 million Pakistani Rupees as of June 30. The report indicates that the share capital and reserves amount to 215.35 million Pakistani Rupees, with an accumulated profit of 200.35 million Pakistani Rupees.

According to information available from the Pakistan Stock Exchange (PSX), Power Holding Limited's net profit for the three-month period ending September 30, 2021, was reported at 18.66 million Pakistani Rupees, a significant decline from the 43.28 million Pakistani Rupees recorded for the same period in 2020. The company's earnings per share also decreased to 12.44 Pakistani Rupees from 28.85 Pakistani Rupees in the previous year.

In terms of cash flow, the company generated 20.34 million Pakistani Rupees from operating activities, a sharp decrease from the 3,509.08 million Pakistani Rupees generated during the same period last year. The cash and cash equivalents at the end of the reporting period increased to 223.88 million Pakistani Rupees, up from 210.30 million Pakistani Rupees at the beginning of the year.

Power Holding Limited's financial performance reflects the challenges faced by the company in managing its financial assets and liabilities amidst changing market conditions. The company continues to navigate a complex financial landscape, seeking to stabilize its financial position and enhance profitability in future reporting periods.