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
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Posted on: 2024-09-02T15:08:34+05:00
