During FY23, HUMNL reported net revenue of PKR 6.83 billion registering an increase of 13.4% when compared to the same period last year where net revenue was PKR 6.02 billion. Gross profit for the same period reached PKR 3.16 billion, reflecting a 28.2% YoY increase against gross profit of PKR 2.46 billion from the same period last year.
The company is proud to have a minimal increase in cost of sales from PKR 3.55 billion in FY22 to PKR 3.67 billion in FY23 representing a YOY increase of 3.2%. Furthermore, cost of sales as a percentage of net revenue fell from 59.1% in FY22 to 53.7% in FY23.
Profit before taxation stood at PKR 2.44 billion for this period against PKR 1.51 billion for the same period last year marking a 61.1% increase.
Profit after taxation for FY23 was recorded at PKR 2.15 billion registering an increase of 57.6% when compared to PKR 1.36 billion from the last year.
The company also recently acquired a prominent sports channel, Ten Sports, and hopes that this acquisition will boost revenues in the coming years as HUMNL expands its portfolio to provide a comprehensive offering to its viewers.
HUMNL also boasted a profit of PKR 424 million in its news segment against a loss of PKR 174 million last year.
In its entertainment segment profit was recorded at PKR 2.32 billion in FY23 against PKR 2.29 billion last year showing an increase of 1.6%.
The company is optimistic about the future as it expects revenues to grow on the back of the recent Tower Sports (Private) Limited acquisition.
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