Jawad Ahmed

Dedex Eternit Limited's financial problems persisted throughout the previous financial year 2021-22 as the net sales of the manufacturer and seller of construction material fell to Rs1.69 billion from Rs2.44 billion a year earlier, showing a 30.5% decrease year-on-year.

The company’s sales and earnings decreased numerically during the fiscal year under review, reports WealthPK quoting the company’s financials.

The gross profit decreased by 20.26% to Rs248 million in FY22 from Rs311 million in FY21, as a result of the drop in revenue. The company sustained a before-tax loss of Rs157 million in FY22 compared to only Rs4 million in FY21.

The after-tax loss rose from Rs39 million in FY21 to Rs143 million in FY22, registering a 267% rise. Due to the significant fall in top-line, losses per share rocketed to Rs13.28 in FY22 from Rs3.62 in FY21.

Credit : Independent News Pakistan-WealthPk