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Lahore, Air Link Communications Limited (AIRLINK) recently conducted an Analyst Briefing to discuss its significant financial growth and future prospects. The company has experienced a remarkable rebound in the first quarter of the fiscal year 2024 (1QFY24), following the lifting of an import ban that had previously hindered its operations.
According to JS Research, AIRLINK’s consolidated sales surged by 167% year-over-year (YoY) and 369% quarter-over-quarter (QoQ) in 1QFY24. This growth is primarily attributed to the government’s decision to allow the import of kits for assembly lines, which led to a boost in production and sales. This comes as a stark contrast to the fourth quarter of the previous fiscal year (4QFY23), where the company had barely managed to break even at the height of the import crisis. Looking ahead, the company’s management anticipates further increases in sales, both in value and volume. This optimism is based on the expectation that the government will continue to support seamless imports. With a full allowance for imports, AIRLINK’s management is aiming for a FY24 revenue target of Rs100 billion.
Additionally, the management highlighted ongoing discussions with the government about permitting the export of mobile phones. They expressed confidence in the local mobile industry’s potential to generate significant export revenue, potentially reaching up to US$15 billion for the country.
The post Air Link Communications Reports Robust Earnings Growth Following Import Ban Lift appeared first on Pakistan Business News.