Karachi: Power Holding Limited has released its financial statement for the six-month period ending December 31, 2021, revealing a decrease in net profit compared to the previous year. According to the un-audited statement, the company achieved a net profit of 16.32 million Pakistani Rupees, down from 40.79 million Rupees in the same period of 2020.

The company’s financial position as of December 31, 2021, showed non-current assets totaling 629.90 million Rupees, a decrease from the 718.25 million Rupees reported on June 30, 2021. Current assets stood at 425.10 million Rupees, an increase from 348.51 million Rupees in June 2021.

Power Holding Limited's share capital and reserves amounted to 213.01 million Rupees, up from 196.69 million Rupees as of June 30, 2021. The entity's non-current liabilities remained consistent at 629.89 million Rupees.

Current liabilities increased to 424.89 million Rupees from 348.32 million Rupees in the previous period. The firm reported a balance of contingencies and commitments at zero.

According to information available from the Pakistan Stock Exchange (PSX), Power Holding Limited’s operating costs for the period were recorded at 10.75 million Rupees, compared to 8.05 million Rupees in the previous year.

The statement of cash flows indicates that net cash generated from operating activities was 8.72 million Rupees, a significant decrease from 1,205.20 million Rupees in the corresponding period of the previous year. There was a minor decrease in cash used in investing activities, totaling 6.88 million Rupees, compared to 99,900 Rupees in 2020.

Meanwhile, financing activities saw no significant cash flow movement, closing at zero, compared to a cash usage of 1,860.66 million Rupees the previous year. Cash and cash equivalents at the end of the year were 212.14 million Rupees, slightly up from 210.30 million Rupees at the beginning of the year.

The comprehensive income remained unchanged from the net profit, as no other comprehensive income was reported for the period.