Lahore: Prosperity Weaving Mills Ltd has reported a notable increase in its net cash generated from operating activities for the half year ending December 31, 2024. The company, which operates within the textiles sector, disclosed its financial results on the Pakistan Stock Exchange.
On March 15, 2025, the company's condensed interim statement of cash flows revealed a profit before taxation of 120.06 million rupees for the half year, compared to 54.26 million rupees in the same period last year. This increase is attributed to various operational efficiencies and financial strategies implemented throughout the year.
The adjustments to the profit before taxation included a depreciation of property, plant, and equipment amounting to 150.93 million rupees, and a provision for employee benefits totaling 44.57 million rupees. Notably, there was a gain on the disposal of property, plant, and equipment recorded at 1.45 million rupees, while the finance cost stood at 153.13 million rupees.
Operating cash flow before working capital changes was reported at 513.06 million rupees, slightly down from 543.63 million rupees the previous year. Changes in working capital, however, resulted in a significant increase, with cash generated from operations amounting to 853.72 million rupees, up from 373.08 million rupees in the prior year.
The company reported that net cash generated from operating activities stood at 494.72 million rupees, a substantial increase from 16.55 million rupees in the same period last year. This was achieved after accounting for payments related to employee benefits, finance costs, and income taxes.
In terms of investing activities, Prosperity Weaving Mills Ltd reported a net cash used in investing activities of 20.41 million rupees, contrasting with a net cash generated from investing activities of 12.85 million rupees in the previous year. According to information available from the Pakistan Stock Exchange (PSX), this shift is primarily due to the purchase and proceeds from other financial assets.
The company's financial strategy also included the purchase of property, plant, and equipment amounting to 37.67 million rupees, with proceeds from disposals totaling 2.18 million rupees. Additionally, the company received dividends amounting to 4.69 million rupees.
These financial results reflect the company's operational and financial adjustments over the past year, positioning it for continued growth and stability in the textiles sector.