Board Meeting

The Meeting of the Board of Directors of the Company was held on Saturday 28th October 2023 at 12:30 p.m. at its registered office to approve the Un-Audited Financial Statements for the First Quarter ended September 30, 2023 of the Company.

During the first quarter of the financial year 2023-24, the overall business remained challenging. However, the management is striving to achieve the better financial results, due to volatility in the prices of raw material and finished goods and the behavior of local & international market is unpredictable.

Alhamdulillah, the results for the first quarter are much improved when compared with the first quarter of the last year. After completion of the BMR, the Company is operating at its optimum level, resultantly the sales and gross profit for the period increased substantially, despite sharp increase in over head cost and other operational expenses. The Pre-Tax Profit was Rs.6,039,318/- which after providing for the tax liability amounting to (Rs.20,874,950/-) resulted in Net Loss after tax of (Rs.14,835,632/-) as compared to Net Loss after Tax of (Rs.46,338,449/-) for the same period last year.

By the grace of Almighty Allah, the Company will achieve better financial results for the remaining period of the current financial year to end on June 30, 2024.