April 30, 2024 (MLN): Air Link Communication Limited (PSX: AIRLINK) revealed its earnings for the quarter ended March 31, 2024, wherein the profit after tax spiked to Rs1.04 billion [EPS: Rs2.62] compared to a profit of Rs165.52m [EPS: Rs0.42] in the same quarter last year.
Going by the results, the company's top line surged by 3.89x YoY to Rs32.21bn as compared to Rs8.29bn in SPLY.
The cost of sales also increased by 3.88x YoY but as the growth in sales was of a greater proportion, the gross profit significantly improved by 3.95x YoY to Rs3.18bn in Q12024.
Resultantly, the gross margins improved to 9.86% as compared to 9.71% in SPLY.
On the expense side, the company observed an increase in Administrative Expenses and other expenses to clock in at Rs520.08m and Rs42.09m respectively during the review period.
Likewise, Selling And Distribution Expenses also ticked up and were recorded at Rs66.31m in Q12024.
Adding further to the company's gains, other income expanded by 38.7% YoY to stand at Rs164.72m in Q12024 as compared to Rs118.73m in SPLY.
The company's finance cost also doubled, reaching Rs863.55m, but the company easily covered this with improved revenue prospects.
On the tax front, the company paid a higher tax worth Rs813.64m against the Rs44.24m paid in the corresponding period of last year, depicting a rise of 1739.1% YoY.
| Consolidated (un-audited) Financial Results for quarter ended March 31, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Mar 24 | Mar 23 | % Change | |
| Sales | 32,210,957 | 8,289,436 | 288.58% |
| Cost of sales | (29,034,107) | (7,484,518) | 287.92% |
| Gross Profit/ (loss) | 3,176,850 | 804,918 | 294.68% |
| Administrative Expenses | (520,081) | (189,531) | 174.40% |
| Selling And Distribution Expenses | (66,306) | (94,540) | -29.87% |
| Other Income | 164,722 | 118,728 | 38.74% |
| Other Operating Expenses | (42,087) | (43) | 97870.67% |
| Finance Cost | (863,547) | (429,773) | 100.93% |
| Profit/ (loss) before taxation | 1,849,551 | 209,759 | 781.75% |
| Taxation | (813,643) | (44,242) | 1739.06% |
| Net profit/ (loss) for the period | 1,035,907 | 165,517 | 525.86% |
| Basic earnings/ (loss) per share | 2.62 | 0.42 | – |
Amount in thousand except for EPS
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Posted on: 2024-04-30T10:28:07+05:00
