Karachi: Supernet Limited has reported a robust financial performance for the fiscal year ending on 30 June 2024, driven by significant growth across its various business segments. The Karachi-based technology firm witnessed its revenue nearly double, underpinned by strategic expansions and enhanced service offerings in key areas like cybersecurity and broadband services.

This financial year, Supernet Limited achieved a remarkable revenue increase to Rs. 7.369 billion, up from Rs. 3.428 billion in the previous year, reflecting a surge in demand for its beyond-connectivity solutions. The company's consolidated revenue also showed impressive growth, reaching Rs. 8.502 billion compared to Rs. 3.920 billion in the preceding year.

According to information available from the Pakistan Stock Exchange (PSX), the growth was largely supported by the company's aggressive expansion in cybersecurity and IT infrastructure, areas that have seen heightened demand due to increased digital transformation efforts by businesses across Pakistan.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) improved significantly, standing at Rs. 557 million, up from Rs. 416 million a year earlier. The net profit after taxation also saw a substantial rise, reported at Rs. 241 million on a consolidated basis, compared to Rs. 188 million during the last financial year.

In terms of share performance and corporate governance, Supernet Limited maintained a strong commitment to compliance and ethical business practices. The board of directors, consisting of seasoned industry professionals, continues to drive the company’s strategic direction with a focus on sustainable growth and shareholder value maximization.

As the company prepares for its upcoming Annual General Meeting on 28 October 2024, stakeholders are optimistic about the future prospects. Supernet’s management attributes this performance to strategic initiatives aimed at enhancing operational efficiency and capitalizing on new market opportunities.