Director of the Air Link Communication Limited are pleased to present the Financial Statement for the half year ended December 31, 2022 along with the review report of Auditors’ thereon.
The country is passing through the toughest time of its history. The economy is facing multiple challenges including current account deficit. The political uncertainty, constant depletion of foreign exchange reserves, devaluation of Pak Rupee, higher KIBOR, rising inflation rate and high fuel prices have halted the business activities in the country. The regulatory authorities through its fiscal measures have restricted the banks to open LCs only for the prescribed essential items. Resultantly, the banks have imposed a complete ban on the import of non-essential items including raw materials, CKD and SKD of mobile phones.
The Government has to take concrete steps to resolve these issues on most urgent basis because the delay will further deteriorate the business conditions and revival will become more difficult.
During the period under review, the sales are reported to PKR 14,059M (2021: PKR 24,002M) and consolidated sales to PKR 23,288M (2021: PKR 24, 129M) resulting decline in gross profit margin to 7.83% from 10.82% and consolidated gross profit margin to 8.75% from 10.77% for comparative period. Net Profit increased to 4.79% from 4.28% while consolidated Net Profit decreased to 3.40% from 4.25%.
However, despite of above mentioned indicators we believe and are hopeful that government and all stakeholders will take further necessary actions to restore the economic activities very soon.
The management of the company is always on the look for best possible measure to run its procedures efficiently and effectively with prevailing conditions in order to maintain the quality of all products, to achieve desire production levels and business targets.
The board would like to appreciate its staff and members of the management team for their hard work and contribution in producing best possible results.
