Lahore, Rupali Polyester Limited announced its financial results for the third quarter ending March 31, 2024. In a board meeting held on April 26 in Lahore the company disclosed no distributions in terms of cash dividends, bonus shares, right shares, or other corporate actions.

The financial statements revealed a notable decline in net sales, dropping from Rs. 3.247 billion in the third quarter of the previous year to Rs. 2.486 billion in the current quarter. The nine-month performance also showed a decrease, from Rs. 8.135 billion the previous year to Rs. 7.860 billion.

The cost of sales remained high, slightly decreasing in the third quarter from Rs. 3.171 billion the previous year to Rs. 2.484 billion, but overall costs for the nine months increased compared to the previous year.

The company reported a loss before taxation of Rs. 237.3 million for the quarter and Rs. 639.2 million for the nine-month period, deepening from a loss of Rs. 49.4 million and Rs. 529 million respectively in the same periods the previous year.

Earnings per share also deteriorated, with a loss of Rs. 7.88 per share for the quarter and Rs. 19.09 for the nine months, compared to a loss of Rs. 2.63 and Rs. 14.72 respectively in the previous year.