Karachi: Image Pakistan Limited disclosed its consolidated and unconsolidated financial results for the fiscal year ending June 30, 2024, highlighting significant growth in revenue and profits. The results were made public in a detailed statement of profit or loss.

In the consolidated statement, the company reported a revenue of 3.97 billion rupees, up from 2.70 billion rupees in the previous year. According to information available from the Pakistan Stock Exchange (PSX), this growth is attributed to an increase in sales volume and pricing strategies that have favorably impacted the bottom line.

The cost of sales stood at 1.55 billion rupees, resulting in a gross profit of 2.34 billion rupees, compared to 1.04 billion rupees in 2023. The substantial rise in gross profit underlines the company's effective cost management and operational efficiency.

Distribution and selling expenses were reduced significantly to 635.78 million rupees from 465.92 million rupees the previous year, while administrative expenses were managed at 308.85 million rupees. The company's other income also contributed 443,150 rupees to the profit.

The operating profit reached 603.68 million rupees, more than doubling from the previous year's 389.71 million rupees. After accounting for finance costs and other charges, the profit before taxation was reported at 480.07 million rupees.

Post-taxation, Image Pakistan Limited's profit after taxation stood at 398.91 million rupees, with basic and diluted earnings per share rising to 2.78 rupees from 2.65 rupees in 2023. The portion of profit attributable to equity holders of the holding company was nearly the entire profit, with a minor share of 84,065 rupees attributed to non-controlling interests.

On the unconsolidated front, the company saw a revenue of 2.95 billion rupees in 2024, up from 2.06 billion rupees in 2023. The gross profit followed a similar upward trajectory, from 848.13 million rupees to 1.28 billion rupees. After covering all expenses, the profit after taxation was recorded at 285.94 million rupees, and the earnings per share were noted at 1.99 rupees.

These financial indicators not only reflect Image Pakistan Limited's robust market performance but also signify its capacity to sustain profitability and shareholder value in a competitive environment.