Lahore, Treet Corporation Limited has announced its financial results for the third quarter ended March 31, 2024. In a recent board meeting, the company's directors reported a lack of dividend, bonus, or rights share distributions for this period. Detailed financial results and future quarterly reports will be made available through PUCARS and on the company's official website.

For the nine months leading up to March 2024, Treet Corporation Limited recorded a consolidated net revenue of Rs 18,592,075,000 compared to Rs 17,450,979,000 in the previous year. However, the company faced higher cost of revenue at Rs 14,327,655,000, up from last year's Rs 13,705,338,000. Despite increased administrative and distribution costs, the operating profit for the third quarter stood at Rs 712,682,000, a slight decrease from Rs 830,271,000 in 2023.

On a standalone basis, Treet's net revenue was Rs 8,501,255,000, an increase from Rs 7,645,879,000 in the prior year. Nevertheless, the company saw a reduction in gross profit and an overall loss after taxation of Rs 142,495,000 compared to a profit of Rs 349,564,000 in the previous year. The earnings per share also reflected a decrease, moving from Rs 1.61 to a loss of Rs 0.65.

The consolidated financial statements further outlined challenges with increased financial expenses and a slight dip in other income. The company also reported a loss attributable to the group of Rs 192,355,000 compared to a profit of Rs 94,581,000 in the previous year. The earnings per share on a consolidated basis decreased to Rs -0.88 from Rs 0.44 last year.