{"id":322,"date":"2026-06-08T13:54:13","date_gmt":"2026-06-08T13:54:13","guid":{"rendered":"https:\/\/finance.brands.pk\/?p=322"},"modified":"2026-06-09T13:56:19","modified_gmt":"2026-06-09T13:56:19","slug":"peco-reports-h1-fy2022-23-financial-results-revenue-declines-amid-continued-operational-challenges","status":"publish","type":"post","link":"https:\/\/finance.brands.pk\/?p=322","title":{"rendered":"PECO Reports H1 FY2022-23 Financial Results: Revenue Declines Amid Continued Operational Challenges"},"content":{"rendered":"

PECO Announces Financial Results for Six Months Ended December 31, 2022<\/h1>\n

Pakistan Engineering Company Limited (PECO) has released its unaudited financial results for the six-month period ended December 31, 2022, highlighting the company’s ongoing efforts to navigate a challenging business environment.<\/p>\n

According to the financial statements approved by the Board of Directors, PECO reported sales revenue of Rs. 18.05 million during the first half of FY2022-23, compared with Rs. 68.75 million recorded during the corresponding period last year. The decline in revenue contributed to a gross loss of Rs. 16.20 million.<\/p>\n

The company recorded an operating loss of Rs. 15.12 million, a significant improvement from the operating loss of Rs. 72.53 million reported in the same period of the previous year. Other operating income of Rs. 44.79 million provided partial support to the company’s financial performance during the period.<\/p>\n

After accounting for finance costs and taxation, PECO reported a net loss after tax of Rs. 19.56 million for the six months ended December 31, 2022, compared with a net loss of Rs. 81.93 million in the corresponding period of 2021. Basic and diluted loss per share improved to Rs. 3.44 from Rs. 15.08 a year earlier.<\/p>\n

On the balance sheet side, total assets stood at Rs. 15.07 billion as of December 31, 2022. Property, plant and equipment remained the company’s largest asset category at Rs. 14.43 billion. Cash and bank balances amounted to Rs. 43.92 million at the end of the reporting period.<\/p>\n

The company’s equity position reflected accumulated losses of Rs. 2.07 billion, while the surplus on revaluation of fixed assets remained strong at Rs. 14.42 billion. Total current liabilities were reported at Rs. 699.32 million.<\/p>\n

PECO’s cash flow statement showed a net decrease in cash and cash equivalents of Rs. 3.12 million during the six-month period, primarily due to operating activities.<\/p>\n

The Board of Directors did not recommend any cash dividend, bonus shares, right shares, or any other corporate action for the period under review.<\/p>\n

Management remains focused on improving operational efficiency, strengthening financial stability, and exploring opportunities to enhance shareholder value in the future.<\/p>\n

Key Highlights<\/h3>\n