Karachi, According to information available from the Pakistan Stock Exchange (PSX), Hallmark Company Limited has successfully acquired a 51% stake in Supernet Limited from Telecard Limited through an inter se transfer concluded on March 28, 2024. This acquisition has positioned Supernet Limited as a direct subsidiary of Hallmark Company Limited, significantly impacting consolidated revenues.
The financial statements released by Hallmark Company Limited for the period ending March 31, 2024, indicate a substantial increase in topline revenue on a consolidated basis, reaching PKR 6.17 billion, up from PKR 1.80 million in the previous period. The gross profit for the period stood at PKR 1.298 billion, a significant rise from PKR 1.269 million reported during the corresponding financial period last year, marking a 102,220% increase.
Furthermore, the profit before tax for the current period was PKR 543 million, compared to a loss of PKR 1.94 million in the prior period. The Earnings per Share (EPS) also showed remarkable improvement, registering PKR 550.80 compared to a loss of PKR 3.89 in the previous period.
On a standalone basis, Hallmark Company Limited reported a 2977% increase in revenue, totaling PKR 55.57 million, with a gross profit of PKR 35.56 million, which is significantly higher than PKR 1.27 million recorded in the corresponding period last year. The Company’s profit after taxation stood at PKR 18.84 million, recovering from a loss of PKR 1.95 million in the previous year. The standalone EPS was PKR 37.67, up from a loss of PKR 3.89 per share.
The Directors, Chief Executive Officer, Company Secretary, and Chief Financial Officer of Hallmark Company Limited have opted to continue foregoing their remuneration, aiding the company in saving substantial costs. The Board expressed optimism about the company’s future prospects, highlighting ongoing efforts to explore new avenues in Technology and other sectors to strengthen its market position. They also extended gratitude to shareholders, management, and employees for their continued support and dedication.