Karachi: Husein Industries Limited has demonstrated a strong financial performance in the third quarter of 2024, according to information available from the Pakistan Stock Exchange (PSX). On September 30, 2024, the company recorded a total comprehensive profit of PKR 12.38 billion, marking a substantial increase from PKR 4.92 billion in the same quarter the previous year.

The details of the quarterly statement of profit or loss reveal that the company's revenue surged to PKR 47.23 billion, up from PKR 42.36 billion in 2023. This growth is attributed to efficient management and robust sales strategies that led to a gross profit of PKR 36.91 billion, compared to PKR 28.90 billion in the corresponding quarter of last year.

Administrative expenses amounted to PKR 11.78 billion, a rise from PKR 8.84 billion in 2023. Despite this increase, the company's operating profit saw a significant boost, reaching PKR 25.13 billion, up from PKR 20.07 billion. Finance costs were reported at PKR 13.82 billion, slightly lower than the PKR 15.68 billion recorded last year.

Other income for the quarter stood at PKR 0.42 billion, a decrease from PKR 0.68 billion in the previous year. However, the profit before levies and income tax was impressive at PKR 11.73 billion, more than double the PKR 5.07 billion noted in 2023. After accounting for levies and taxation, the profit after taxation reached PKR 12.38 billion, significantly higher than the previous year's PKR 4.92 billion.

Earnings per share also saw a positive shift, rising to PKR 1.17 from PKR 0.46. This marks a notable improvement in shareholder value and reflects the company's strong financial health.