Monday, October 2, 2023

PIA Record Devastating Loss of Over 36 Billion Rupees in 3 Months

In just three months, Pakistan International Airlines (PIA) has suffered a huge loss of more than 36.770 billion rupees.According to the financial statistics for the three months ended March 2023, PIA’s loss per share increased from Rs 2 60 paise to Rs 7 2 paise.

PIA reported earnings of 59 billion rupees between January and March 2023, representing a quarterly rise of 24 billion rupees from the prior year.

However, over the three-month span, the pre-tax gross profit was Rs 5 billion.According to a spokeswoman, expenses for wages and operating costs totaled 28 billion 55 million rupees during the most recent quarter, exceeding the 21 billion rupee threshold from the prior quarter.

Authorities emphasised that PIA spent an astounding Rs 25 billion 60 crore on fuel during the March 2023 quarter.

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