Karachi: Air Link Communication Limited disclosed its financial statements for the quarter ending September 30, 2024, detailing an economic backdrop where Pakistan's consumer price index (CPI) inflation fell significantly. On September 30, 2024, CPI inflation stood at 6.9%, a stark decrease from 31.4% in September of the previous year, according to information available from the Pakistan Stock Exchange (PSX).

In the standalone financial summary, Air Link recorded sales of PKR 13,138 million, a slight decrease from PKR 14,115 million in the prior year. However, the company experienced a gross profit margin increase to 8.45% from 7.83%. Earnings per share were reported at PKR 0.89, down from PKR 1.65.

The consolidated financial performance showed sales totaling PKR 22,052 million, compared to PKR 25,108 million a year earlier. Both consolidated gross profit margin and net profit margin improved, reaching PKR 2,170 million and PKR 842 million, respectively, up from PKR 1,619 million and PKR 789 million. The consolidated earnings per share rose to PKR 2.13, marking a 3.43% increase from PKR 2.06.

Recent tax changes affecting the import and sale of locally assembled mobile phones influenced first-quarter sales volumes, but with CPI inflation now reduced to a single digit and a gradual policy rate reduction, the company anticipates stabilization and growth in sales, buoyed by upcoming new model launches.

Looking forward, Air Link's management is committed to refining operational strategies to maintain product quality, achieve production targets, and meet broader business goals, including financial performance, market expansion, product innovation, and sustainability efforts.

The Board of Directors took this opportunity to express gratitude to all stakeholders, including regulatory bodies, financial institutions, customers, vendors, and company staff, for their continued support and dedication to the company's objectives.