Descon Oxychem Limited (PSX: DOL) has seen an increase of 23.57% in its production capacity for the financial year 2022 (FY-22). According to the statement released by the company, strong increases in production have been driven by higher prices, better production processes and growing demand for H2O2. Descon Oxychem Limited is one of the top exporters of hydrogen-peroxide (H2O2) and allied products in Pakistan. According to the press statement, the company faced a lot of domestic and international challenges, but it still saw an exceptional increase in its business activities.

The statement read that the revenues of the DOL saw an increase of 52% on a year-on-year (YoY) basis and reached PKR 4.2 billion. Similarly, the profit after tax stood at PKR 471 million, an increase of 69% over the previous year. The statement also showed that the company produced a total of 40,550 MeT of H2O2 in the FY-22. Chief Executive Officer of DOL Mohsin Zia said, “we are very pleased with our yearly results, which have proved to be one of the strongest in the company’s history. 

Our outlook continues to be promising for the coming months with increased margins and positive cash flows. We implemented an effective strategy to mitigate the adverse geo-political and economic impacts through improved price-management, better product-placement, enhanced exports and timely expansion. This performance showcases the company’s resolve to continuee to strengthen its position as a regional market-leader.”DOL was established in the year 2004, and over the following decades, it has achieved sustainable growth. Going forward, the company plans to penetrate into the new segments, enhance margins and hedge against slow demand in the future.

Credit : Independent News Pakistan-WealthPk