PAEL: Net Income declined by 33%

Pak Elektron Limited (PSX:PAEL), Annual Results (December 2022)

	Share Price (Rs.)	3 Month	1 Year
PAEL	10.67	-11.85%	-29.77%

PAEL earned a Profit after tax of Rs. 1.06 (EPS Rs. 1.33) declining 33% over last year. Announced no dividend. 

Sales increased by 22% for the year ending December 22, 2012. Gross profit increased by 14%, while gross profit margin declined by 7% to 19.7%.

Operating income increased by 24% on the reversal of Rs. 241 million on account of  'impairment allowance for expected credit loss'. A huge increase of 42% in the financial charges substantially nullified top line growth and profit before tax, which could only register a 6% increase.

The tax rate increase to 54% from 28% last year impacted the bottom line negatively. PAT declined by 33%.

Pak Elektron Limited	Dec-2022	Dec-2021	yoy
	Rs. Mill	Rs. Mill	%
Sales	52,386	42,887	22%
Gross Profit	10,301	9,068	14%
Operating Profit	5,439	4,381	24%
Finance Cost	-3,090	-2,174	42%
Profit Before Tax	2,348	2,206	6%
Profit After Tax	1,067	1,591	-33%
EPS		1.33	2.89
Dividend		Nil	Nil
GP Margin	19.7%	21.1%	-7%
Tax Rate	54.5%	27.9%	96%
			PAEL: Annual Results

https://dps.psx.com.pk/company/PAEL

PAEL Dec2022 Results Announcement