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Monday 08 July, 2024
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PIA reports a loss of more than 36 billion rupees in 3 months

BY Shahzad Saeed Jun 01, 2023. 09:51 pm UPDATED: Jun 01, 2023. 09:51 pm

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Pakistan International Airlines (PIA) has lost a staggering amount of more than 36.770 billion rupees in just three months. The financial statistics for the three months ended March 2023 show an increase in PIA’s loss per share from Rs. 2 60 to Rs. 7 2 pence.

Between January and March 2023, PIA reported earnings of 59 billion rupees, an increase of 24 billion rupees from the same period the previous year.

However, the pre-tax gross profit for the three-month period was Rs 5 billion. A spokeswoman said that the most recent quarter’s wage and operating expense total exceeded the prior quarter’s 21 billion rupee threshold, coming in at 28 billion 55 million rupees.

Authorities emphasized that during the March 2023 quarter, PIA spent an astounding Rs 25 billion 60 crores on fuel.

Read more: HBL and Akhuwat Islamic Microfinance Sign an Agreement to Provide Interest-Free Financing Under PMYB&ALS

 

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