Islamabad, Pakistan – September 25, 2024 – Pak Datacom Ltd., a leading data communication and technology services provider, has released its audited financial results for the fiscal year ending June 30, 2024. The company, in its meeting held on September 24, 2024, also declared a final cash dividend of Rs. 3.50 per share, representing 35% of the face value.
Key Financial Highlights:
- Revenue: The company achieved a total revenue of Rs. 1,685,394,320, a notable increase from the previous year’s Rs. 1,362,843,918.
- Cost of Services: The cost of services rose from Rs. 1,073,989,629 in FY 2023 to Rs. 1,280,552,216 in FY 2024, leading to a gross profit of Rs. 404,842,104 (FY 2023: Rs. 288,854,289).
- Operating Profit: The operating profit decreased significantly to Rs. 146,577,428 in FY 2024 from Rs. 284,006,291 in the prior year, largely due to an increase in administrative expenses (Rs. 225,810,398) and marketing expenses (Rs. 40,635,003).
- Profit Before Taxation: The company reported a profit before taxation of Rs. 264,440,717 compared to Rs. 399,130,444 in FY 2023.
- Profit for the Year: Net profit for the fiscal year 2024 amounted to Rs. 192,223,638, down from Rs. 289,861,508 in 2023.
- Earnings Per Share (EPS): Basic and diluted EPS for FY 2024 stood at Rs. 16.21, compared to Rs. 24.44 in FY 2023.
Appropriations:
At the meeting, the Board approved the transfer of Rs. NIL from unappropriated profit to general reserves for FY 2024, compared to Rs. 49.5 million in the previous year. Furthermore, the Board approved a final cash dividend of Rs. 3.50 per share, amounting to a total payout of Rs. 41.507 million.
Dividend and Shareholder Returns:
Pak Datacom Ltd. declared a 35% cash dividend for the fiscal year ended June 30, 2024. No interim dividend was paid earlier during the fiscal year 2023-24. This dividend, totaling Rs. 41.507 million, reflects the company’s commitment to providing consistent returns to its shareholders.
Conclusion:
Despite an increase in revenue, Pak Datacom Ltd. faced rising costs and expenses, which led to a reduction in its net profitability for FY 2024. However, the company remains financially robust and continues to reward shareholders with a substantial dividend payout. Looking forward, Pak Datacom Ltd. will focus on optimizing operational efficiencies and driving growth in key segments to maintain its market leadership in the data communication industry.