Lahore: Shaffi Chemical Industries Limited announced its financial results for the half-year period ending December 31, 2024, revealing a challenging fiscal performance. The company's Board of Directors convened on February 25, 2025, at their Lahore headquarters to discuss the financial outcomes and shareholder entitlements.

The results indicate a net sales revenue of 12.19 million rupees for the half-year, compared to 10.05 million rupees in the corresponding period of the previous year. However, the cost of sales also increased to 10.34 million rupees from 8.46 million rupees, resulting in a gross profit of 1.86 million rupees, up from 1.59 million rupees in the prior year.

Operating expenses, including administrative costs, were recorded at 745,627 rupees, a decrease from 956,099 rupees. Despite this, the company reported an operating loss of 2.35 million rupees, compared to 4.74 million rupees in the previous period. The finance cost contributed significantly to the overall loss, amounting to 13.61 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), Shaffi Chemical Industries did not declare any interim cash dividends, bonus shares, or right shares for the period ended December 31, 2024. The board's recommendations reflected a cautious approach given the financial results.

The company's net loss before taxation amounted to 16.41 million rupees, compared to a loss of 7.03 million rupees in the previous year. After accounting for taxation and other charges, the loss after taxation stood at 16.08 million rupees, leading to an earnings per share of negative 1.37 rupees.

Shaffi Chemical Industries operates within the chemical sector, a designated market category facing numerous challenges due to fluctuating raw material costs and market volatility. The company's financial report, including detailed income statements and comparisons with previous periods, will be disseminated through the Pakistan Unified Corporate Action Reporting System (PUCARS) within the stipulated timeframe.

The shareholder register's closure dates and any other shareholder entitlements or actions will be communicated to ensure transparency and compliance with regulatory requirements.