Pakistan: Agha Steel reports losses in 9MFY’24

Agha Steel Industries Limited reported a loss of PKR 1.3 billion ($4.65 million) for the first nine months of FY’24, reversing a PKR 290 million profit from the same period last year. Revenue fell 3.64% y-o-y to PKR 33 billion ($119.7 million). The third-quarter loss was PKR 665.8 million ($2.3 million), with revenue declining 4.15% to PKR 11.18 billion ($40 million). Finance costs rose 20.3% due to higher interest rates.