Fakiha Tariq

Air Link Communication Limited’s (AIRLINK) sales and gross profit dropped 49% and 60%, respectively, in the first nine months (July-March) of the ongoing fiscal year 2022-23 compared to the corresponding period of the preceding fiscal, WealthPK reports.

During the period, AIRLINK made gross sales of Rs18 billion and posted gross profit of Rs1.51 billion, thus coming up with the gross profit ratio of 8.4%.

The telecom firm posted net profit and net profit ratio of Rs775 million and 4.30% in 9MFY23, respectively. AIRLINK posted earnings per share of Rs2.01 during the period under review.

The telecom firm’s revenue declined by a huge 49% from Rs35 billion in 9MFY22 to Rs18 billion in 9MFY23. Likewise, the gross profit dropped by a massive 60% from Rs3.8 billion in 9MFY22 to Rs1.5 billion in 9MFY23.

AIRLINK’s net profit, which stood at Rs1.4 billion in 9MFY22, dropped to Rs775 million in 9MFY23.

Registered on the Pakistan Stock Exchange with the symbol of AIRLINK, the firm is the sixth-largest company registered in technology and communication sector with a market capitalisation of Rs7.5 billion.

AIRLINK – Quarterly Review

A quarterly review of profitability reveals that at the gross level, AIRLINK performed better in the first quarter (July-Sept) of the FY23. However, the company achieved highest net level in the second quarter (Oct-Dec) of trade. AIRLINK’s performance was average in the third quarter (Jan-Mar) of FY23.

In the first quarter, AIRLINK posted gross revenues of Rs6.8 billion and gross profit of Rs749 million. The company posted net profit of Rs264 million. Therefore, the gross profit and net profit ratios were reported to be 11% and 3.87%, respectively. In 1QFY23, the company reported the earnings per share of Rs0.69.

In the second quarter, the telecom firm posted gross revenues of Rs7.2 billion and gross profit of Rs570 million. The company posted net profit of Rs346 million. Therefore, the gross profit and net profit ratios came out to be 7.9% and 4.80%, respectively. In this quarter, the company reported the earnings per share of Rs0.90.

In the third quarter of FY23, the company posted gross revenues of Rs3.9 billion and gross profit of Rs418 million. The company posted net profit of Rs102 million. Therefore, the gross profit and net profit margins were calculated at 11% and 2.5%, respectively.

In this quarter, the company posted the earnings per share of Rs0.27.

Credit : Independent News Pakistan-WealthPk