Karachi: Symmetry Group Limited has reported substantial growth in its financial results for the quarter ended September 30, 2024. The company announced that no new cash dividends, bonus shares, or rights shares would be distributed, maintaining its focus on reinvestment and operational expansion.

In the unconsolidated financial statement, Symmetry Group Limited revealed a net revenue of 125.98 million rupees for the third quarter of 2024, a significant increase from 57.71 million rupees in the same quarter of the previous year. The cost of services jumped to 60.59 million rupees, leaving a gross profit of 65.41 million rupees, compared to 46.43 million rupees in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the company's operational efficiency is evident in its operating profit, which reached 30.45 million rupees, up from 22.90 million rupees last year. Despite a notable increase in other income, which surged to 2.50 million rupees, finance costs were also higher, totaling 10.16 million rupees.

The consolidated results further underscore the company's robust performance, with net revenue escalating to 179.18 million rupees from 118.60 million rupees year-over-year. This was on the back of an increase in cost of services to 67.21 million rupees. The gross profit for the consolidated entity was an impressive 111.97 million rupees, markedly higher than the 87.76 million rupees reported in 2023.

The operating profit for the consolidated results stood at 58.46 million rupees, demonstrating effective control over administrative and general expenses, despite their increase to 53.50 million rupees. The company managed a profit before levies and taxation of 50.33 million rupees, substantially higher than the 45.42 million rupees in the previous year.

Symmetry Group's tax liabilities decreased, resulting in a net profit of 19.92 million rupees on its unconsolidated sheet and 41.30 million rupees on its consolidated sheet, showing an improvement from last year's figures. Earnings per share also saw a positive adjustment, with basic and diluted earnings rising to 0.07 rupees from 0.05 rupees.