Karachi: Wafi Energy Pakistan Limited's financial results for the year ending December 31, 2024, reveal significant growth in assets and liabilities, alongside a notable increase in equity. The company's latest financial statements indicate an expansion in both current and non-current assets, culminating in a total asset value of 113.87 billion rupees, up from 106.35 billion rupees in the previous year.

The company's non-current assets, which include property, plant and equipment, right-of-use assets, and long-term investments, amounted to 39.58 billion rupees, marking an increase from the previous year's 36.37 billion rupees. Within this category, deferred taxation saw a decrease, recorded at 23.07 million rupees compared to 23.14 million rupees in 2023.

Current assets also witnessed an upward trend, totaling 74.30 billion rupees, an increase from the previous year's 69.98 billion rupees. Notably, stock-in-trade and trade debts were reported at 45.62 billion rupees and 7.73 billion rupees, respectively. These figures highlight Wafi Energy's robust position in managing short-term financial obligations and operational liquidity.

The equity section of the balance sheet displayed a rise to 23.06 billion rupees, reflecting an increase from 19.74 billion rupees in 2023. The company's share capital remained unchanged at 2.14 billion rupees, while share premium was consistent at 11.99 billion rupees. Unappropriated profit saw a significant rise to 9.37 billion rupees from the previous year's 5.77 billion rupees, demonstrating improved profit retention.

According to information available from the Pakistan Stock Exchange (PSX), Wafi Energy's liabilities also increased, with non-current liabilities reaching 13.27 billion rupees, up from 9.93 billion rupees in 2023. This increase was primarily driven by long-term lease liabilities and long-term payables, recorded at 6.84 billion rupees and 2.06 billion rupees, respectively.

Current liabilities also expanded, with a total of 77.55 billion rupees compared to 76.68 billion rupees in the prior year. Trade and other payables, along with advance received from customers, were significant components of this category, reflecting ongoing operational and contractual engagements.

Wafi Energy's financial performance for the year ending December 31, 2024, underscores the company's strategic asset management and financial resilience within the energy sector. The reported figures highlight the company's commitment to sustaining growth amid evolving market conditions, as evidenced by the comprehensive data shared in their financial statements.