Lahore: On 17 October 2024, the Board of Directors of Pak Elektron Limited convened in Lahore to review and approve the company's financial results for the third quarter ended September 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the company disclosed its unaudited financial statements, revealing significant figures and operational highlights but no distribution of cash dividends, bonus shares, or any other price-sensitive information.

The detailed financial results highlighted a robust growth in gross sales, which increased from 38.15 billion in the third quarter of 2023 to 54.77 billion in the same quarter of 2024. After accounting for sales tax and discounts, the net sales stood at 41.35 billion, up from 30.64 billion in the previous year. The cost of sales also rose to 30.39 billion, resulting in a gross profit of 10.97 billion, compared to 8.14 billion in 2023.

Operational costs, including distribution and administrative expenses, were also detailed in the report. Distribution costs rose to 2.82 billion from 1.93 billion, and administrative costs increased to 1.84 billion from 1.52 billion. The financials further included a finance cost of 2.93 billion, slightly up from the previous year's 2.86 billion.

Pak Elektron's pre-tax profit showed a substantial increase, registering at 3.19 billion, nearly doubling from 1.73 billion in 2023. However, the taxation provision for the period stood at 1.33 billion, leading to a net profit after tax of 1.86 billion, which translates to earnings per share of 2.14, a notable increase from 1.07 the previous year.

The company's quarterly report will be disseminated through PUCARS separately within the stipulated timeframe.