Qudsia Bano

Security Papers Limited’s revenue from sales stood unchanged at Rs1.18 billion in the first quarter of the ongoing financial year 2022-23 (1QFY23) compared to the corresponding period of the previous fiscal. However, the gross profit of the company decreased 33% to Rs281 million in 1QFY23 from Rs418 million recorded in 1QFY22.

The company’s net profit also decreased 8% to Rs209 million in 1QFY23 from a profit of Rs228 million over the corresponding period of FY22, according to a WealthPK analysis of the firm’s quarterly performance.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales inched up to Rs5.14 billion from Rs5 billion in FY21, posting a modest increase of 3% year-on-year.   The gross profit for FY22 stood at Rs1.65 billion, down 12% from Rs1.88 billion in FY21. The profit-after-tax for the year also went down by 35% to Rs948 million from Rs1.45 billion in FY21.

The earnings per share (EPS) of the company in FY22 stood at Rs16.02, plunging from Rs24.61 in FY21. A public company limited by shares, Security Papers manufactures and sells specialised paper for banknote and non-banknote security documents.

Credit : Independent News Pakistan-WealthPk