Karachi: Rafhan Maize Products Co Ltd has announced a robust performance for the third quarter ending September 30, 2024. According to the unaudited financial results, the company showcased significant growth in net sales and net income after tax, continuing its upward trajectory despite prevailing economic uncertainties.

The company registered net sales of Rs 50.32 billion for the nine-month period ending September 30, 2024, up from Rs 49.37 billion in the same period last year. For the quarter, net sales increased to Rs 16.69 billion, compared to Rs 15.48 billion in the third quarter of 2023. Net income after tax also saw an increase, reaching Rs 5.57 billion for the nine months, slightly up from Rs 5.56 billion in the previous year. Earnings per share rose to Rs 602.51, marking a minor increase from Rs 602.24.

According to information available from the Pakistan Stock Exchange (PSX), Rafhan Maize attributes its financial success to significant growth in its export business, which has been a key driver of its revenue. The company also noted its animal health business continued to perform well, contributing to overall profitability.

In a broader economic context, Pakistan's economy has shown resilience amid easing inflation and stable currency, though challenges such as high energy costs and political uncertainty persist. Despite these hurdles, Rafhan Maize has demonstrated adaptability and commitment to growth, supported by its strategic initiatives and strong corporate governance.

Looking ahead, the company remains optimistic about sustaining its growth trajectory through 2024, bolstered by its robust business model and the ongoing support of its stakeholders, including customers and shareholders. The management expressed gratitude towards its business partners and stakeholders for their continued trust and support.