Lahore: Sazgar Engineering Works Limited reported a significant increase in profitability and revenue for the quarter ending September 30, 2024, underscoring the company's strong financial performance and market position.

In the third quarter of 2024, Sazgar Engineering's net sales reached Rs. 26.33 billion, a substantial rise from Rs. 8.04 billion during the same period last year. According to information available from the Pakistan Stock Exchange (PSX), this increase reflects the company's successful expansion and operational strategies.

The cost of sales for the quarter was reported at Rs. 18.71 billion, leading to a gross profit of Rs. 7.62 billion, compared to Rs. 1.51 billion in 2023. This represents a significant improvement in gross margin, attributed to enhanced efficiency and cost management.

Sazgar Engineering's operating profit also saw a remarkable rise, reaching Rs. 6.76 billion, up from Rs. 1.15 billion in the previous year. This growth in operating profit is a result of increased sales volume and effective overhead cost control.

The company's net profit before tax stood at Rs. 6.62 billion, with a final net profit of Rs. 4.22 billion after accounting for taxes. The earnings per share also increased dramatically to Rs. 69.77, up from Rs. 10.89 in 2023.

These financial results reflect Sazgar Engineering's solid financial health and its ability to deliver shareholder value in a challenging economic landscape.