Karachi: The unnamed company has reported a significant rise in its sales, gross profit, and net profit for the first quarter ended September 30, 2023, as per the un-audited statement of profit or loss account submitted to the Pakistan Stock Exchange.

Comparing the quarterly figures year over year, the sales have more than doubled from PKR 65,563,431 in September 2022 to PKR 150,041,486 in September 2023. This surge in sales resulted in an increase in gross profit from PKR 13,199,601 in the previous year to PKR 63,119,802 in the current year. The cost of sales also saw a rise but the increase in sales far outweighed, reflecting positively on the gross profit margins.

Administrative expenses and selling and distribution costs have increased, amounting to PKR 11,963,207 and PKR 4,117,244 respectively. However, the company managed to report a staggering operating profit of PKR 47,039,351 for the period, in contrast to an operating loss of PKR 1,010,840 in the same quarter of the previous year.

Further supporting the financial stability of the company, other operating income rose from PKR 163,200 to PKR 884,581. Despite a considerable increase in finance cost from PKR 531,228 to PKR 3,109,541, the company achieved a profit before taxation of PKR 44,814,391, reversing the loss before taxation of PKR 1,378,868 reported in the same quarter of the previous year.

Taxation for the period was reported at PKR 2,907,980, and the company concluded the first quarter of 2023 with a net profit of PKR 41,906,411, translating to earnings per share of 6.98. This is a substantial recovery compared to a net loss of PKR 2,362,320 reported in the corresponding period of 2022.