Pakistan Engineering Company Limited (PECO) has reported a notable financial turnaround for the first quarter ended September 30, 2022, demonstrating significant improvement in profitability compared to the same period last year.<\/p>\n
According to the company’s financial results, PECO recorded sales revenue of Rs. 8.123 million during the quarter. While gross loss remained at Rs. 6.497 million due to higher cost of sales, the company benefited substantially from other operating income amounting to Rs. 44.353 million. This contribution played a key role in strengthening the company’s overall financial performance.<\/p>\n
PECO reported a profit before taxation of Rs. 14.162 million, a remarkable improvement compared to a loss before taxation of Rs. 34.162 million in the corresponding quarter of the previous year. After accounting for taxation, the company achieved a net profit of Rs. 12.768 million, reversing the net loss of Rs. 39.312 million recorded during the same period in 2021.<\/p>\n
The company’s earnings per share (EPS) also improved significantly, reaching Rs. 2.24 per share compared to a loss per share of Rs. 6.91 in the prior-year quarter. This positive shift reflects enhanced financial stability and improved operational outcomes.<\/p>\n
On the balance sheet side, PECO reported total assets of approximately Rs. 15.1 billion as of September 30, 2022. The company maintained a strong asset base, with property, plant, and equipment representing the majority of its non-current assets. Cash and bank balances increased to Rs. 47.281 million, reflecting positive cash generation during the quarter.<\/p>\n
The statement of cash flows showed net cash generated from operating activities of Rs. 247 thousand. Although modest, the positive cash flow indicates improved liquidity management and operational efficiency.<\/p>\n
The Board of Directors announced that no cash dividend, bonus shares, or right shares would be distributed for the quarter. The company also reported no other corporate actions or price-sensitive information during the period.<\/p>\n
Overall, PECO’s first-quarter results indicate a meaningful recovery from the losses experienced in the previous year. Continued focus on operational efficiency, asset management, and revenue generation will be essential for sustaining this positive momentum in the coming quarters.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan Engineering Company Limited (PECO) has reported a notable financial turnaround for the first quarter ended September 30, 2022, demonstrating significant improvement in profitability compared to the same period last year. According to the company’s financial results, PECO recorded sales revenue of Rs. 8.123 million during the quarter. While gross loss remained at Rs. 6.497 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[127],"tags":[55],"class_list":["post-320","post","type-post","status-publish","format-standard","hentry","category-pakistan-engineering-company-limited-peco-psx","tag-financial-results","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=320"}],"version-history":[{"count":1,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/320\/revisions"}],"predecessor-version":[{"id":321,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/320\/revisions\/321"}],"wp:attachment":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}