Lahore: Shezan International Limited has released its financial results for the third quarter ended September 30, 2024, demonstrating a notable recovery with a net profit of Rs. 10.28 million, a significant improvement from a net loss of Rs. 27.66 million in the same period last year.

The company's revenue from contracts with customers reached Rs. 2.31 billion, up from Rs. 2.12 billion in the third quarter of 2023, marking an increase of approximately 8.8%. This revenue boost was supported by a substantial rise in gross profit, which soared by 19.3% to Rs. 522.54 million. According to information available from the Pakistan Stock Exchange (PSX), these improvements reflect Shezan International's strategic adjustments in operations and pricing to better align with market dynamics.

Distribution expenses and administrative costs also saw increases, climbing to Rs. 318.19 million and Rs. 30.32 million, respectively. Despite these rises, the company's overall operating profit grew to Rs. 440.99 million, up from Rs. 392.09 million in the prior year.

The financial report highlighted a decline in other income and an increase in finance costs, which continue to challenge the company's profitability. However, the effective management of these expenses and strategic business decisions have led to positive net earnings, showcasing a strong rebound.

Shezan International's earnings per share also reflected this positive outcome, with a basic and diluted EPS of Rs. 1.06 compared to a loss per share of Rs. 2.86 in 2023.