Air Link Communication Limited, a leading smartphone manufacturer in Pakistan, reported a significant increase in profit-after-tax (PAT), reaching Rs. 4.625 billion for the fiscal year ending June 30, 2024. This represents a remarkable 382% growth compared to the Rs. 960.5 million PAT recorded in the previous year, as per the latest consolidated financial statements submitted to the Pakistan Stock Exchange (PSX).
Key Financial Highlights of Air Link Communication (FY24 vs. FY23):
| Financial Metric | FY24 | FY23 | Percentage Change |
|---|---|---|---|
| Profit-After-Tax (PAT) | Rs. 4.625 billion | Rs. 960.5 million | +382% |
| Earnings Per Share (EPS) | Rs. 11.70 | Rs. 2.50 | +368% |
| Revenue | Rs. 129.74 billion | Rs. 36.93 billion | +251% |
| Gross Profit | Rs. 9.8 billion | Rs. 3.5 billion | +180% |
| Operating Profit | Rs. 8.5 billion | – | – |
| Administrative and Operating Expenses | Rs. 993.46 million | Rs. 760.22 million | +31% |
| Finance Cost | Rs. 2.97 billion | Rs. 1.83 billion | +62% |
| Profit-Before-Tax (PBT) | Rs. 5.6 billion | Rs. 867.97 million | +545% |
| Taxation | Rs. 977 million | Rs. 92 million | +963% |
The company’s earnings per share (EPS) also witnessed a substantial increase, standing at Rs. 11.70 in FY24, up from Rs. 2.50 in FY23. This impressive growth in profitability is largely due to a significant surge in revenue during the financial year.
Air Link Communication reported a revenue of Rs. 129.74 billion for FY24, marking an increase of over 251% compared to Rs. 36.93 billion in the previous fiscal year. This boost in revenue enabled the company to achieve a gross profit of Rs. 9.8 billion, up from Rs. 3.5 billion in the previous year.
Despite the substantial increase in revenue, the company’s administrative and operating expenses grew by only 31%, reaching Rs. 993.46 million in FY24, compared to Rs. 760.22 million in FY23. The company reported an operating profit of Rs. 8.5 billion for the fiscal year.
However, the finance cost rose significantly to Rs. 2.97 billion in FY24, up from Rs. 1.83 billion in FY23. Despite this increase, Air Link’s profit-before-tax (PBT) experienced a massive jump, amounting to Rs. 5.6 billion in FY24, compared to Rs. 867.97 million in the previous year, reflecting an impressive 545% growth.
Taxation expenses also saw a sharp increase, with Air Link paying Rs. 977 million in taxes in FY24, compared to Rs. 92 million in FY23.
In addition to its financial performance, Air Link Communication announced plans to begin the production of Xiaomi Smart TVs at its Lahore manufacturing facility next month. This move is expected to further enhance the company’s product portfolio and market presence.
Leave a Comment