Karachi: Gatron Industries Limited has shown significant financial growth in its latest fiscal year, as per the details revealed in their annual financial results. The company announced a substantial increase in sales and operating profit for the year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), these results reflect a positive trend despite the absence of dividend distribution this year.

In 2024, Gatron Industries recorded sales of 34.01 billion rupees, up from 27.38 billion rupees in the previous year, marking an increase of about 24%. The cost of sales also rose to 31.93 billion rupees, leading to a gross profit of 2.09 billion rupees, significantly higher than the 1.45 billion rupees reported in 2023. This surge in gross profit illustrates a stronger operational efficiency.

The company also improved its operating profit, which reached 1.39 billion rupees, up from 553.74 million rupees in the previous year, demonstrating a notable operational improvement. Despite higher finance costs, which increased from 1.07 billion rupees to 1.49 billion rupees, the company managed to reduce its losses before levies and income tax significantly, from a profit of 1.07 billion rupees in the previous year to just 8.54 million rupees this year.

Moreover, the net loss after income tax also improved slightly, with the company reporting a loss of 204.36 million rupees compared to a profit of 205.30 million rupees in 2023. The earnings per share adjusted to a loss of 2.36 rupees from a profit of 2.61 rupees per share last year.

The Annual General Meeting of the company is scheduled for October 28, 2024, at their factory premises in Balochistan, Pakistan. Furthermore, the Share Transfer Books will remain closed from October 22 to October 28, 2024, for transfers received at the Shares Registrar in Karachi.

These financial results have been audited and will be transmitted through PUCARS separately, within the specified time.