Karachi: Goodluck Industries Limited has disclosed its financial outcomes for the fiscal year ended June 30, 2024, revealing a fluctuating trajectory in profits compared to the previous year.

The turnover for the company rose to PKR 2,166.95 million in 2024 from PKR 1,770.36 million in 2023, marking a notable increase. Despite the higher turnover, the cost of sales also escalated to PKR 2,138.38 million from PKR 1,742.98 million the prior year. According to information available from the Pakistan Stock Exchange (PSX), these figures represent a substantial movement in the company’s fiscal dynamics.

The gross profit saw a slight improvement, standing at PKR 28.57 million, up from PKR 27.38 million in 2023. However, administrative and other operating expenses collectively rose to PKR 25.68 million, up from PKR 21.29 million, undercutting the profit gains from operations.

The profit from operations consequently stood at PKR 2.89 million, a sharp decline from PKR 6.09 million in the preceding year. Other income added PKR 1.83 million to the financials, a new addition not present in the prior year’s accounts.

After accounting for finance costs and taxation, the net profit after taxation amounted to PKR 3.26 million, down from PKR 4.33 million the previous year. The earnings per share also decreased to PKR 10.88 from PKR 14.42.

These financial figures indicate a challenging fiscal environment for Goodluck Industries, marked by increased costs and a lowered profitability margin despite higher revenues.