Qudsia Bano

Data Agro Limited’s revenue climbed 8% to Rs142.78 million in the first nine months of the previous fiscal year 2021-22 (9MFY22) compared with Rs132 million in the corresponding period the year earlier.

It is to mention here that the principal activity of the company is the production and processing of agriculture seeds.

The company’s gross profit stood at Rs33.6 million in 9MFY22 compared to Rs29.86 million in the corresponding period of FY21, posting a growth of 12%.

The net profit increased 10% to Rs9.8 million compared with a profit of Rs8.9 million in the corresponding period of FY21, reports WealthPK, quoting the financials of the company.

As of June 30, 2021, directors, chief executive officers, their spouses and minor children owned 40.05% of the company’s shares. Associated companies and related parties held 9.87% of the shares, NIT and ICP 1.09%, banks, development financial institutions, non-banking financial institutions, Modarabas, mutual funds and insurance companies owned 0.05%, individuals 47.89% and “others” held 0.30%.

Financial Performance

During the fiscal year 2020-21, the company maintained a strong sales trend, generating net revenue of Rs191.6 million over Rs146.8 million in 2019-20 at 30% growth rate.  

The gross profit for FY21 stood higher at Rs39.1 million than Rs33.2 million in FY20, posting 18% growth year-on-year.

Profit-after-tax for FY21 pushed up to Rs8.04 million from a profit of Rs5.8 million in FY20, posting an increase of 38% year-on-year.

The earnings per share (EPS) of the company kept inching up from Rs0.78 in 2018 to Rs2.01 in 2021, showing that the company continued to remain profitable during the recent years.   

Data Agro Limited was initially incorporated as a private limited company in Pakistan on November 10, 1992 under the Companies Ordinance, 1984. It was later converted into a public limited company on March 6, 1994.

Credit : Independent News Pakistan-WealthPk