Karachi, Waves Corporation Limited (WAVES has announced its Annual Audited Financial Results for the year ended 31 December 2022. The Board of Directors, in their meeting held today, approved the audited consolidated and Unconsolidated financial results and standalone financial results of the Company. The Company reported a net revenue of Rs. 9,938,668, compared to Rs. 10,439,010 in the previous year. The gross profit of the Company was recorded at Rs. 1,957,467, down from Rs. 2,282,366 last years. The profit before taxation was Rs. 188,676, a decrease from Rs. 515,139 in the previous year.
The Board also approved the Company's Annual Business Plan/Budget for the Financial Year 2023. The Annual General Meeting (AGM) of the Company is scheduled to be held on 29 May 2023 at Karachi. The share transfer books of the Company will remain closed from 19 May 2023 to 29 May 2023 (both days inclusive).
The financial performance for the year ended 31 December 2022. The Company's consolidated financial results for the year ended 31 December 2022 and the unconsolidated statement of profit or loss for the year ended 31 December 2022.