Lahore: In the fiscal year ending June 30, 2024, DataAgro Limited, a prominent agricultural firm, showcased a significant improvement in its financial health, demonstrating resilience in a volatile market. According to information available from the Pakistan Stock Exchange (PSX), the Lahore-based company reported a net profit of 7.49 billion Rupees, marking a substantial increase from the previous year's 4.21 billion Rupees.

DataAgro Limited’s turnover soared to 362.31 million Rupees in 2024, a robust increase from 218.17 million Rupees in 2023. This surge was driven by effective cost management strategies and an enhanced market presence which saw the cost of sales amounting to 269.13 million Rupees, resulting in a gross profit of 93.18 million Rupees for the year. Despite the increase in operational expenses, which totaled 68.18 million Rupees, the company’s strategic initiatives bore fruit, yielding a profit before taxation of 12.20 million Rupees.

The detailed analysis reveals that while distribution costs were relatively high at 25.89 million Rupees, administrative expenses and other operating costs were maintained at 22.85 million and 40.93 million Rupees respectively. Noteworthy is the financial discipline exhibited in managing finance and other costs, which were cut down to 47.46 million Rupees, coupled with a modest other income of 1.71 million Rupees.

The total assets of DataAgro Limited also saw a healthy increase, closing at 512.09 million Rupees in 2024, compared to 399.58 million Rupees in 2023. The company’s equity and liabilities structure strengthened, with an ending balance of 512.09 million Rupees, supported by a 12% increase in issued, subscribed, and paid-up capital, and a notably higher unappropriated profit of 89.75 million Rupees.

The year also marked an enhancement in shareholder value as the earnings per share rose from 4.21 to 1.87, reflecting the company’s enhanced profitability and optimistic outlook.