Islamabad: Power Holding Limited has reported a decline in its financial position as of March 31, 2021, with a noticeable decrease in both non-current and current assets compared to the previous audited period ending June 30, 2020. This development comes amidst a challenging economic environment.

The company's non-current assets fell to 756,064,098,275 Pakistani Rupees from 832,525,893,878 Pakistani Rupees as recorded in June 2020. The most significant change was observed in the finance facilities - principal portion receivable, which decreased from 832,525,003,260 Pakistani Rupees to 756,063,247,161 Pakistani Rupees.

Current assets also saw a reduction, standing at 338,414,063,313 Pakistani Rupees in March 2021, down from 331,274,637,651 Pakistani Rupees in June 2020. Cash and bank balances experienced a sharp decline, ending at 213,106,840 Pakistani Rupees from 842,615,780 Pakistani Rupees in the previous period.

Total equity, including share capital and reserves, increased to 197,999,406 Pakistani Rupees from 135,530,805 Pakistani Rupees, driven by a rise in accumulated profit. However, liabilities remain a concern, with long-term financing maintaining a significant figure of 756,063,247,162 Pakistani Rupees.

According to information available from the Pakistan Stock Exchange (PSX), the company's net profit for the nine months ending March 31, 2021, was 62,468,602 Pakistani Rupees, compared to 79,856,047 Pakistani Rupees in the same period last year. This decrease in profitability reflects the broader economic pressures faced by the company.

The company's cash flow statement for the same period shows a net decrease of 629,508,940 Pakistani Rupees in cash and cash equivalents, highlighting challenges in managing operational cash flow amidst increased financing activities.

Power Holding Limited's financial performance indicates the complexities of operating within the current economic landscape, with decreased assets and reduced profitability posing significant challenges for the company moving forward.