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 | 139,390.42 291.21M | 0.71% 978.17 |
ALLSHR | 86,260.96 576.29M | 0.65% 558.00 |
KSE30 | 42,618.60 119.41M | 0.86% 363.76 |
KMI30 | 196,907.86 123.77M | 1.44% 2798.27 |
KMIALLSHR | 57,276.87 259.26M | 0.99% 563.20 |
BKTi | 37,820.27 20.77M | -0.03% -11.06 |
OGTi | 28,214.64 47.07M | 2.82% 774.00 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 118,840.00 | 119,785.00 117,905.00 | 1220.00 1.04% |
BRENT CRUDE | 71.37 | 72.82 71.33 | -1.10 -1.52% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 68.93 | 70.41 68.88 | -1.07 -1.53% |
SUGAR #11 WORLD | 16.40 | 16.61 16.28 | -0.05 -0.30% |
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 |
---|