Qudsia Bano

Ghani Value Glass Limited’s gross and net profits dropped in the first six months of the ongoing financial year 2022-23 (6MFY23) compared to the same period of last year, though the company’s net sales remained unchanged at Rs1.7 billion. The gross profit of the company decreased 17% to Rs589.4 million in 6MFY23 from Rs709.6 million recorded in 6MFY22. The company posted a net profit of Rs283 million in 6MFY23 compared to Rs449.7 million in 6MFY22, recording a 37% decrease year-on-year, reports WealthPK.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales went up to Rs3.4 billion from Rs2.6 billion in FY21, posting an increase of 33% year-on-year. The gross profit for FY22 stood at Rs1.27 billion, 54% up from Rs828.4 million in FY21. Compared to Rs526 million in FY21, the company’s pre-tax profit increased 67% to Rs877 million in FY22. The company also reported a 28% growth in its net profit in FY22 as the post-tax income increased to Rs755 million from Rs589 million in FY21.

The company’s earnings per share increased 28% to Rs11.73 in FY22 from Rs9.15 in FY21.

About the company

Ghani Value Glass was incorporated in Pakistan on March 17, 1967 as a public limited company. The company manufactures and sells mirrors, tempered glass and laminated glass.

Credit: Independent News Pakistan-WealthPk