Islamabad:Ferozsons Laboratories Limited, a key player in the pharmaceutical sector, has reported a substantial increase in its net profit for the fiscal year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the company's consolidated net revenue climbed to Rs. 15.85 billion, marking an increase from Rs. 11.46 billion in the previous year.

The company's unconsolidated financials also reflected positive growth, with net revenue reaching Rs. 12.71 billion, up from Rs. 9.83 billion in 2023. This increase in revenue contributed to a significant rise in gross profit, which surged to Rs. 4.94 billion in 2024 from Rs. 3.82 billion a year earlier.

Operating expenses, including administrative and selling expenses, saw a notable increase due to expanded operations and increased market activities. However, the increase in operational costs was offset by a remarkable 160.51% increase in profit from operations in the consolidated financial statements, amounting to Rs. 1.82 billion in 2024, compared to Rs. 0.72 billion in 2023.

Net profit after taxation showed a robust increase on both the consolidated and unconsolidated fronts. The consolidated net profit after taxation rose to Rs. 755.47 million, significantly higher than the Rs. 296.24 million reported in 2023. On an unconsolidated basis, net profit after taxation stood at Rs. 400.05 million, a substantial improvement from Rs. 189.04 million in the previous year.

Earnings per share also increased markedly. The consolidated earnings per share were Rs. 15.72, up from Rs. 6.24 in 2023, while the unconsolidated earnings per share grew from Rs. 4.35 to Rs. 9.20.

Ferozsons Laboratories Limited's financial performance in 2024 illustrates a successful strategy of expansion and diversification within the pharmaceutical industry, which has been well-received by investors and market analysts alike.