Qudsia Bano

Pakistan Cables Limited’s revenue from sales increased by 13% and stood at Rs10.8 billion in the first six months of the ongoing Financial Year 2022-23 (6MFY23) compared to Rs9.5 billion in the corresponding period of the previous fiscal. The gross profit increased by 12% to Rs1.5 billion in 6MFY23 from Rs1.3 billion recorded in 6MFY22. However, the net profit decreased by 33% to Rs301.8 million in the first six months of FY23 compared to Rs452.8 million in the corresponding period of the previous year, reports WealthPK.

Performance in 2021-22

During the Fiscal Year 2021-22, the company’s gross sales went up to Rs21.2 billion from Rs13 billion in FY21, posting a massive increase of 61% year-on-year. The gross profit for FY22 stood at Rs2.7 billion, 80% up from Rs1.5 million in FY21. The profit after tax for the year went up by 50% to Rs827.7 billion from Rs553.6 billion in FY21. The increased profit is mostly attributable to increased volume and productivity, reports WealthPK.

Earnings Per Share

The EPS of the company showed a mix of trends during recent years. In FY19, the EPS was Rs3.56, which dropped to Rs-2.58 in FY20; however, it showed a massive growth during FY22 and stood at Rs23.27.

About the company

Pakistan Cables Limited was incorporated in Pakistan as a private limited company on April 22, 1953 and was converted into a public limited company in 1955. The company is engaged in manufacturing copper rods, wires, cables and conductors, aluminium extrusion profiles, and PVC compounds.

 Credit: Independent News Pakistan-WealthPk