Security Papers Limited (SPL) announced record profits for the nine months ended March 31, 2024. The company’s profit soared by 151% to Rs 1,083 million, compared to Rs 431 million in the same period last year.
This impressive performance was driven by successful pricing negotiations, improved operational efficiencies, and strategic investments. Net sales increased by 46% to Rs 5,297 million, while gross profit surged by 136% to Rs 1,483 million.
SPL Chairman Aftab Manzoor expressed enthusiasm, stating, “We are thrilled to report another exceptional quarter. Our team’s tireless efforts have enabled us to deliver record profits, and we are confident that our robust strategy will continue to drive growth and value creation for our stakeholders.”
Despite challenging economic conditions, SPL is confident its strategy will continue to drive growth. The company is also working on various initiatives, including a manufacturing excellence program, and is closely coordinating with key stakeholders to contribute to the upcoming launch of a new banknote series.
