Air Link posts massive 382% increase in profit in FY24

Pakistan’s smartphone manufacturer Air Link Communication Limited saw its profit-after-tax (PAT) grow by 382% to clock in at Rs4.625 billion in the year ended June 30, 2024.

The company posted a PAT of Rs960.5 million in the previous year, according to the company’s latest consolidated financial statements provided to the Pakistan Stock Exchange (PSX) on Monday.

Earnings per share (EPS) stood at Rs11.70 in FY24 compared with the EPS of Rs2.50 in FY23.

Air Link Communication’s profit up 533%, stands at over Rs1bn in 3QFY24

The rise in profit can be attributed to the higher revenue generated during the financial year 2024.

The company posted a revenue of Rs129.74 billion in FY24 as compared to Rs36.93 billion in the previous year, a jump of more than 250%.

Consequently, the company managed to post a gross profit of Rs9.8 billion in FY24, as compared to Rs3.5 billion registered the previous year.

Despite a massive increase in revenue from contracts, the company saw its administrative and operating expenses rise only 31% to Rs993.46 million in FY24, as compared to Rs760.22 million in the previous year.

The company posted an operating profit of Rs8.5 billion in FY24.

The finance cost increased to Rs2.97 billion in FY24, compared to Rs1.83 billion the previous year.

PRL, Air Link withdraw intention to buy 77.42% shares, control of Shell Pakistan

Air Link’s profit-before-tax stood at Rs5.6 billion in FY24, as compared to Rs867.97 million in FY23, a jump of over massive 545%.

In FY24, the company paid Rs977 million in taxation, as compared to Rs92 million in the previous year.

Separately, the company announced that it will commence production of Xiaomi Smart TVs at its production facility in Lahore next month.