Pakistan International Airlines Corporation Limited Announces Unaudited Unconsolidated and Consolidated Earnings Results for the Quarter and Nine Months Ended September 30, 2020
December 04, 2020 at 04:45 pm IST
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Pakistan International Airlines Corporation Limited announced unaudited unconsolidated and consolidated earnings results for the quarter and nine months ended September 30, 2020. For the quarter, on unconsolidated basis, the company reported revenue-net of PKR 22,890,320,000 compared to PKR 41,415,386,000 a year ago. Gain from operations was PKR 1,323,709,000 compared to PKR 2,69,386,000 a year ago. Loss for the period was PKR 2,956,021,000 compared to PKR 4,090,859,000 a year ago. Basic and diluted loss per share attributable to A class ordinary share was PKR 0.56 compared to PKR 0.78 per share a year ago. Basic and diluted loss per share attributable to B class ordinary share was PKR 0.28 compared to PKR 0.39 per share a year ago.
For the nine months, on unconsolidated basis, the company reported revenue-net of PKR 74,361,680,000 compared to PKR 107,339,073,000 a year ago. Loss from operations was PKR 8,701,590,000 compared to PKR 4,852,182,000 a year ago. Loss for the period was PKR 39,856,818,000 compared to PKR 41,983,227,000 a year ago. Basic and diluted loss per share attributable to A class ordinary share was PKR 7.61 compared to PKR 8.02 per share a year ago. Basic and diluted loss per share attributable to B class ordinary share was PKR 3.81 compared to PKR 4.01 per share a year ago.
For the quarter, on consolidated basis, the company reported revenue-net of PKR 23,550,137,000 compared to PKR 46,987,730,000 a year ago. Loss from operations was PKR 2,659,000 compared to earnings of PKR 1,398,977,000 a year ago. Loss for the period was PKR 4,615,794,000 compared PKR 8,134,951,000 a year ago. Basic and diluted loss per share attributable to A class ordinary share was PKR 0.88 compared to PKR 1.55 per share a year ago. Basic and diluted loss per share attributable to B class ordinary share was PKR 0.44 compared to PKR 0.78 per share a year ago.
For the nine months, on consolidated basis, the company reported revenue-net of PKR 78,778,964,000 compared to PKR 120,695,445,000 a year ago. Loss from operations was PKR 12,598,738,000 compared to PKR 5,835,632,000 a year ago. Loss for the period was PKR 44,509,075,000 compared to PKR 46,697,607,000 a year ago. Basic and diluted loss per share attributable to A class ordinary share was PKR 8.50 compared to PKR 8.92 per share a year ago. Basic and diluted loss per share attributable to B class ordinary share was PKR 4.25 compared to PKR 4.46 per share a year ago.
Pakistan International Airlines Corporation Limited is a Pakistan-based company that provides commercial air transportation services, which includes passenger, cargo, and postal carriage services. Other activities of the Company include the provision of engineering and allied services. Its business units include Cargo, Precision Engineering and Ground Handling. Cargo's offerings cover multiple domestic and international destinations and operate a fleet of B777s and A320s to carry freight to different destinations. Cargo transports a range of commodities across Pakistan as well as to several global destinations. Its Precision Engineering Complex (PEC) manufactures high precision parts for the aerospace industry and several other industries. The PEC includes investment casting, conventional and CNC machining, Optics, PCB, Electrical, Electronics and Composites. Its Ground handling services include passenger handling, ramp handling, cargo handling, and flight operations, among others.