Hum Network earns Rs2.6bn in FY24

News Image

MG News | October 04, 2024 at 03:30 PM GMT+05:00

0:00

October 04, 2024 (MLN): Hum Network Limited (HUMNL) net profit rose 21.5% to Rs2.61 billion [EPS: Rs2.3] in the financial year 2024, compared to a profit of Rs2.15bn [EPS: Rs1.9] earned last year.

The company's top line rose by 21.7% to Rs8.31bn as compared to Rs6.83bn in FY23.

Cost of sales also rose by 12.5% but was lesser than proportionate to sales rise, which improved the gross profit by 32.4% to Rs4.18bn in FY24.

The gross margins rose slightly to 50.3% as compared to 46.3% last year.

During the period under review, other income marked a decline of 34.0% to stand at Rs410.62m in FY24 as compared to Rs621.87m last year.

On the expense side, the company's administrative expenses rose 11.8% from a year ago to Rs990.12m, and selling and distribution expenses rose 28.3% to Rs525.22m.

The company’s finance cost decreased by 22.6% and stood at Rs35.64m as compared to Rs46.06m in FY23.

On the tax front, the company paid a higher tax worth Rs316.48m against the Rs290.58m paid in the corresponding period of last year, depicting an increase of 8.9%.

This translates to an effective tax rate of 10.8% as compared to 11.9% in FY23.

Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 8,307,666 6,825,586 21.71%
Cost of sales (4,125,173) (3,666,799) 12.50%
Gross Profit/ (loss) 4,182,493 3,158,788 32.41%
Administrative Expenses (990,120) (885,354) 11.83%
Selling And Distribution Expenses (525,217) (409,428) 28.28%
Other Income 410,619 621,870 -33.97%
Other Operating Expenses (115,061) - -
Finance Cost (35,641) (46,059) -22.62%
Profit/ (loss) before taxation 2,927,073 2,439,817 19.97%
Taxation (316,481) (290,578) 8.91%
Net profit/ (loss) for the period 2,610,592 2,149,239 21.47%
Basic earnings/ (loss) per share 2.30 1.90 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,985.00 119,740.00
116,460.00
-1310.00
-1.11%
BRENT CRUDE 73.38 73.63
71.75
0.87
1.20%
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 70.21 70.51
68.45
1.00
1.44%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

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