Air Link Communication profit jumps over three times in 2024

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	163,304.13 424.61M	-0.78% -1286.28
ALLSHR	99,380.97 1,038.42M	-0.94% -946.44
KSE30	49,842.51 138.16M	-0.73% -367.30
KMI30	238,104.17 78.33M	-0.14% -327.97
KMIALLSHR	65,590.95 485.77M	-0.66% -435.42
BKTi	45,705.29 72.87M	-2.08% -972.73
OGTi	32,671.23 13.00M	-0.23% -74.93

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,990.00	112,355.00 109,820.00	570.00 0.52%
BRENT CRUDE	65.69	66.78 65.41	-0.30 -0.45%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.05 -1.29%
ROTTERDAM COAL MONTHLY	92.60	0.00 0.00	0.10 0.11%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	61.44	62.59 61.21	-0.35 -0.57%
SUGAR #11 WORLD	14.97	15.34 14.93	-0.32 -2.09%