Air Link Communication profit jumps over three times in 2024

News Image

MG News | September 02, 2024 at 03:08 PM GMT+05:00

0:00

September 02, 2024 (MLN): Air Link Communication Limited (PSX: AIRLINK) recorded an increase of 242% in its profits in fiscal year 2024 from a year ago as sales surged.

The company's after-tax profits rose to Rs3.06 billion [EPS: Rs7.74] compared to a profit of Rs894.54 million [EPS: Rs2.33] in the same period last year (SPLY).

Along with the results, the company announced a final cash dividend for the year ended June 2024 at Rs4 per share i.e. 40%. This is in addition to interim dividend(s) already paid at Rs2 per share i.e. 20%.

Going by the results, the company's sales revenue expanded by 161.7% to Rs56.28bn as compared to Rs21.5bn in SPLY.

The cost of sales also rose by 162.4% but was lesser than proportionate to sales rise, which improved the gross profit by 155.8% to Rs5.83bn in 2024.

The gross margins, however, fell to 10.4% as compared to 10.6% in SPLY.

During the period under review, other income inched up by 0.2% to stand at Rs140.41m in 2024 as compared to Rs140.18m in SPLY.

On the expense side, the company's administrative expenses rose 35.0% YoY to Rs811.35m, selling and distribution expenses fell 4.6% YoY to Rs318.95m, and other operating expenses rose 499.0% YoY to Rs328.4m.

The company’s finance cost grew by 81.4% and stood at Rs1.3bn as compared to Rs718.46m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a tax worth Rs152.23m against the tax credit of Rs182.33m received last year.

Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 56,282,419 21,503,905 161.73%
Cost of sales (50,449,172) (19,223,220) 162.44%
Gross Profit/ (loss) 5,833,246 2,280,686 155.77%
Administrative Expenses (811,350) (601,064) 34.99%
Selling And Distribution Expenses (318,952) (334,315) -4.60%
Other Income 140,405 140,175 0.16%
Other Operating Expenses (328,396) (54,822) 499.03%
Finance Cost (1,303,386) (718,455) 81.42%
Profit/ (loss) before taxation 3,211,568 712,205 350.93%
Taxation (152,226) 182,332 -
Net profit/ (loss) for the period 3,059,342 894,538 242.00%
Basic earnings/ (loss) per share 7.74 2.33 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 148,617.78
624.60M
0.86%
1274.27
ALLSHR 91,685.08
1,340.28M
0.74%
669.39
KSE30 45,247.79
197.43M
0.83%
370.74
KMI30 212,370.79
224.51M
1.05%
2209.48
KMIALLSHR 61,227.89
711.87M
1.18%
715.56
BKTi 41,264.02
160.39M
0.54%
221.73
OGTi 30,019.10
23.63M
0.64%
190.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,265.00 113,390.00
108,020.00
-4475.00
-3.97%
BRENT CRUDE 67.46 67.94
67.29
-0.52
-0.76%
RICHARDS BAY COAL MONTHLY 88.70 88.70
88.70
-0.75
-0.84%
ROTTERDAM COAL MONTHLY 96.15 96.75
96.00
-0.40
-0.41%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.01 64.55
63.88
-0.59
-0.91%
SUGAR #11 WORLD 16.34 16.52
16.33
-0.14
-0.85%

Chart of the Day


Latest News
August 30, 2025 at 04:28 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


August 29, 2025 at 06:04 PM GMT+05:00

SCRA inflows offset Rs8.5bn net selling


August 29, 2025 at 05:46 PM GMT+05:00

SECP cuts bonus, right issue timelines



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg