Sazgar Engineering Works Limited has reported an impressive net profit of Rs 4.22 billion for the quarter that ended in September 2024. This is a significant increase of 540.4% compared to Rs 658.54 million in the same quarter last year.
As a result of this strong performance, the company’s shares rose nearly 6% during Monday’s intraday trading. Revenue for the quarter jumped by 227.3%, reaching Rs 26.33 billion, up from Rs 8.04 billion the previous year. The gross profit also saw a remarkable increase of 404.5%, rising to Rs 7.62 billion, which improved gross margins to 28.9%. This means that a larger portion of their revenue is now being kept as profit after covering the costs of production.
In addition to these impressive numbers, Sazgar Engineering announced an interim cash dividend of Rs 10 per share, which is equivalent to 100%. While the company did face a rise in administrative and operating expenses, it also enjoyed a boost in other income, which increased by 406.7% to reach Rs 403.39 million.
