Pakistan Engineering Company Limited (PECO) has announced its financial results for the nine-month period ended March 31, 2024, revealing continued operational challenges and a net loss of Rs70.03 million. The results were approved by the company’s Board of Directors during a meeting held on June 6, 2026.<\/p>\n
According to the financial statements, PECO generated sales revenue of Rs17.97 million during the nine-month period, compared to Rs24.07 million recorded in the corresponding period last year. The decline in revenue reflects the difficult business environment and reduced operational activity faced by the company.<\/p>\n
The company’s gross loss stood at Rs15.55 million, while operating losses widened to Rs60.47 million. Administrative expenses remained a significant burden on profitability, totaling Rs30.62 million during the reporting period. Despite earning other operating income of Rs1.58 million, PECO was unable to offset its rising costs and finance expenses.<\/p>\n
After accounting for taxation and levies, the company reported a net loss after tax of Rs70.03 million, compared with a loss of Rs39.90 million in the same period last year. Basic and diluted loss per share increased to Rs12.31, highlighting the continued pressure on shareholder returns.<\/p>\n
On the balance sheet side, total assets stood at Rs14.99 billion as of March 31, 2024, slightly lower than Rs15.02 billion reported at the end of June 2023. The company maintained a strong asset base, largely supported by property, plant, and equipment valued at Rs14.39 billion.<\/p>\n
PECO’s accumulated losses increased to Rs2.15 billion, while shareholders’ equity stood at Rs12.32 billion. Current liabilities rose to Rs752.45 million from Rs708.87 million, reflecting increased trade payables and accrued obligations.<\/p>\n
Despite ongoing losses, the company reported a positive cash flow position. Cash and cash equivalents increased to Rs15.60 million at the end of March 2024, compared with Rs15.04 million at the beginning of the period. Net cash generated from operating activities amounted to Rs847,000.<\/p>\n
The Board did not recommend any cash dividend, bonus shares, right shares, or other corporate actions for shareholders. Management stated that no price-sensitive information was disclosed beyond the published financial results.<\/p>\n
The latest financial performance underscores the challenges facing PECO as it seeks to improve operational efficiency, increase revenue generation, and strengthen its long-term financial sustainability.<\/p>\n","protected":false},"excerpt":{"rendered":"
PECO Reports Rs70 Million Net Loss for Nine Months Ended March 2024 Pakistan Engineering Company Limited (PECO) has announced its financial results for the nine-month period ended March 31, 2024, revealing continued operational challenges and a net loss of Rs70.03 million. The results were approved by the company’s Board of Directors during a meeting held […]<\/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-330","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\/330","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=330"}],"version-history":[{"count":1,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/330\/revisions"}],"predecessor-version":[{"id":331,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/330\/revisions\/331"}],"wp:attachment":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}