Kohinoor Power Company Limited (KOHP) reported loss per share of PKR 1.25 for FY24, compared to loss per share of PKR 0.13 in FY23. Furthermore, in 3QFY25, the company reported EPS of PKR 0.04, compared to loss per share of PKR 0.03 in the same period last year (SPLY).
A sales tax refund of approximately PKR 17mn, which had been recorded earlier, was reversed on the auditor’s recommendation. The amount will be recognized under Other Income once it is received.
Currently, the company’s only source of income is rental income, which is used to meet ongoing expenses. Looking ahead, management is evaluating options for the company’s revival. In the past, they had nearly finalized a merger with Saritow Spinning; however, the plan was abandoned following the downturn in the textile sector. At this stage, management is not considering a sale of the company.
Instead, they are focusing on potential revival strategies, including a possible merger with another entity in the future or the modification/replacement of existing machinery.
Important Disclosures
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