Air Link Communication profit jumps over three times in 2024

MG News | September 02, 2024 at 03:08 PM GMT+05:00
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
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|