Oct 26, 2026, 8:55 AM
Dewan Farooque Motors reports a quarterly loss; auditors flag going-concern uncertainty
Financial ResultDewan Farooque Motors Limited announced unaudited results for the quarter ended December 31, 2024. Sales were Rs. 202.727 million, while the company recorded a net loss of Rs. 75.909 million and a loss per share of Rs. 0.55. The filing also states that the auditors qualified their report over non-provisioning of mark-up and included an emphasis paragraph regarding the going-concern assumption. No cash dividend was recommended.
Key Findings
- Quarterly net sales were Rs. 202.727 million, compared with Rs. 8,000 in the corresponding quarter.
- The quarterly net loss narrowed to Rs. 75.909 million from Rs. 84.883 million; loss per share improved to Rs. 0.55 from Rs. 0.61.
- Operating loss increased to Rs. 67.547 million from Rs. 62.802 million.
- The auditors qualified their report regarding non-provisioning of mark-up and added an emphasis paragraph regarding the going-concern assumption.
- The board recommended no cash dividend, bonus shares, or rights shares.
Financial Performance
| Metric | PreviousQuarter ended December 31, 2023 | CurrentQuarter ended December 31, 2024 | Change |
|---|---|---|---|
| Sales - Net | 8 | 202,727 | +2,533,987.5% |
| Gross loss | (50,453) | (39,123) | +22.5% |
| Operating loss | (62,802) | (67,547) | -7.6% |
| (Loss) for the period | (84,883) | (75,909) | +10.6% |
| (Loss) per share - Basic and diluted | (0.61) | (0.55) | +9.8% |
| Finance cost | (32) | (127) | -296.9% |
| Cash and bank balances | 144,862 | 151,051 | +4.3% |
| Short term loan from related parties | 1,696,185 | 2,116,185 | +24.8% |
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.