Jawad Ahmed

The net revenue of Ferozsons Laboratories Limited stood at Rs7.8 billion in the last financial year 2021-22, 11% higher than Rs7 billion in fiscal 2020-21, reports WealthPK.

Ferozsons Laboratories Limited, which manufactures and sells pharmaceuticals products and medical devices, was first incorporated as a private limited company. Later, it was converted into a public limited company on September 08, 1960.

Despite strong topline growth, the company's profit margins were squeezed by high sales expenses and federal taxes, as the profit-after-tax dropped 29.1% to Rs514 million from Rs725 million during the two comparable periods, reports WealthPK, quoting the company’s financial stats.

Historical financial performance

The company's overall sales revenue increased to Rs5.19 billion in 2019 from Rs4.45 billion in 2018. Additionally, the business's gross profit increased from Rs1.55 billion to Rs2.06 billion in the two periods under review. In comparison to a net loss of Rs17 million in 2018, the company's net profit increased to Rs188 million in 2019. This increase in profit pushed the earnings per share (EPS) to Rs8.3.

The company's sales revenues increased by 6.5% in 2020 to Rs6.40 billion from Rs5.19 billion in 2019, sustaining a growth trend. Its profit-before-tax increased to Rs592 million for the year, a 110% growth over Rs338 million in 2019. The after-tax profit increased to Rs423 million from Rs188 million, causing the EPS to rise even more to Rs10.9.

In 2021, the company reported excellent revenues of Rs7.03 billion, up 43% from Rs5.40 billion in 2020. The increase in volume and better absorption of fixed costs caused the gross profit to rise by 56.7%, from Rs2.339 billion the previous year to Rs3.665 billion in 2021. The profit-before-tax increased to Rs1.566 billion in 2021 from Rs592 million in the previous year. The net profit of Rs423 million the year before jumped in 2021 to Rs1.289 billion. The EPS thus jumped to Rs20.0 from Rs10.9 in 2020.

Credit : Independent News Pakistan-WealthPk