Hifsa Raja

Descon Oxychem Limited’s revenue from sales increased 73.09% to Rs1.69 billion in the third quarter (January-March) of the ongoing fiscal year 2022-23 (3QFY23) from Rs982 million over the corresponding period of the previous fiscal year. Similarly, the company’s gross profit increased by a staggering 498% to Rs566 million in 3QFY23 from a paltry Rs94 million in 3QFY22. The profit-before-taxation also rocketed to Rs439 million from just Rs35 million in 3QFY22, posting a mighty 1,121% increase year-on-year.

The profit-after-taxation also soared massively to Rs293 million in 3QFY23 from just Rs25 million in 3QFY22, registering a whopping 1,039% increase year-on-year. Overall, the financial summary of Descon Oxychem Limited for the third quarter of this fiscal shows an upward trend compared to the third quarter of the previous fiscal year. The company's financial performance is mainly driven by an increase in sales and gross profit, which led to a significant increase in the profit before and after tax.

About the company

Descon Oxychem was incorporated in Pakistan as a private limited company on November 12, 2004 under the Companies Ordinance, 1984, which is now replaced by Companies Act, 2017). The firm was converted into a public limited company with effect from February 28, 2008 as approved by the Securities and Exchange Commission of Pakistan (SECP). The company is principally engaged in the manufacture, procurement and sale of hydrogen peroxide and allied products. The company commenced its trial production on December 1, 2008 and commercial production on March 1, 2009.

Credit: Independent News Pakistan-WealthPk