Qudsia Bano

Pak Datacom Limited’s revenue from sales increased 51% to Rs442 million in the first quarter of the ongoing financial year (1QFY23) compared to Rs293 million in the corresponding period of the previous fiscal. Similarly, the gross profit of the company increased 49% to Rs65 million in 1QFY23 from Rs43 million recorded in 1QFY22. The company posted a net profit of Rs64.9 million in 1QFY23, up 45% from a profit of Rs44.9 million over the corresponding period of FY22, reports WealthPK.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales went up to Rs1.2 billion from Rs897 million in FY21, posting an increase of 38% year-on-year.   However, the gross profit for FY22 stood at Rs148.5 million, down 18% from Rs181.9 million in FY21. The profit-after-tax for the year also went down by 37% to Rs231.3 million from Rs367.4 million in FY21.

Pattern of Shareholding

As of June 30, 2022, associated companies owned the bulk of 75.1232% shares of the company. Local individuals from the general public segment held the second most percentage of shares at 13.9402%, followed by banks, development financial institutions and non-banking financial institutions 7.1984% and ‘others’ 1.5676%.

Earnings per share and profitability

The EPS of the company stood at Rs14.59 in 2019, but plunged to Rs0.69 in 2020. The EPS slightly increased to Rs1.3 in 2021. The EPS then took a flight to Rs19.5 in 2022, showing the company earned healthy profits.

About the company

Pak Datacom Limited was incorporated in Pakistan on July 13, 1992, as a private limited company under the Companies Ordinance, 1984 (now replaced with Companies Act, 2017). The company was converted into a public limited company on June 26, 1994. It commenced its commercial activities on July 1, 1994, and is principally engaged in setting up, operating, and maintaining a network of data communication.

Credit : Independent News Pakistan-WealthPk