KARACHI: Shaffi Chemical Industries Limited has disclosed its financial results for the fiscal year ended June 30, 2024, noting a sales revenue of Rs. 20.238 million and a gross profit of Rs. 4.240 million. Despite facing significant challenges, the company reported a loss after tax of Rs. 14.984 million from its furniture trading business.

According to information available from the Pakistan Stock Exchange (PSX), the company's efforts led by the dedicated board of directors and management team have enabled a reduction in liabilities and negative equity, positioning the company in a better financial state. This improvement has contributed significantly to the growth of operational profit over the year.

The Chairman of Shaffi Chemical Industries Limited expressed gratitude towards the shareholders, board of directors, and employees for their continued efforts toward the revival of the company's business operations. He highlighted the board's rich experience in business, finance, and regulatory compliance, which has been pivotal in navigating the company through difficult times.

The company's Audit Committee has been particularly active, focusing on a detailed review of financial statements and the effectiveness of internal controls. Meanwhile, the HR Committee has overseen the HR policy framework and recommended selections and compensation for the senior management team.

The Chairman acknowledged the confidence and trust placed by shareholders during the suspension of business operations and praised the management for its significant efforts in reviving business operations. He expressed trust in the management's commitment and is optimistic about the company's direction towards future growth and prosperity.