KARACHI: K-Electric Ltd posted a consolidated loss of Rs30.9 billion for 2022-23 versus a profit of Rs8.4bn a year ago.
A company statement on Friday said 2022-23 was “significantly influenced” by challenging socio-political and macroeconomic factors that left a cascading impact on the company.
“Surging inflation, policy rate hikes, rupee devaluation and a contraction in economic activity have cast a significant influence on the company’s operations and overall profitability,” it added.
Meanwhile, consolidated earnings for TPL Corporation Ltd for 2022-23 remained Rs1bn, down 76pc from the preceding year.
Separately, Murree Brewery Company Ltd announced its net income for 2022-23 amounted to Rs1.2bn, almost unchanged from a year ago.
It also declared a dividend of Rs5 per share, which is in addition to an interim pay-out of Rs5 apiece.
Globe Residency REIT declared an annual profit of Rs271 million for 2022-23, down 20.8pc from a year ago. It also declared a dividend of Rs3 per unit.
Published in Dawn, September 16th, 2023