INP-WealthPk
Security Papers revenue registers no growth in 1QFY23
December 09, 2022
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
