According to a bourse notification of Roshan Packages Limited, Mr Khalid Eijaz Qureshi has been re-elected Chairman of the Company.

Financial performance

Meanwhile, during the financial period ended 30 September 2021t, the sales revenue has increased to Rs. 1,920 million as compared to Rs. 1,658 million registered an increase of 16% compared to the same period last year. However, the profitability of the Company was impacted, primarily due to rapid devaluation of Pak Rupee affecting both local & imported raw material prices, especially resin that is priced in USD, says Company report.

Furthermore, the spike in fuel rates increased to Rs. 24 million in utility costs. As a result, the Company posted a gross profit of Rs. 181 million and an after-tax profit of Rs. 25 million.

In terms of funds management, the Company has efficiently managed its funds, resulting in a gradual decrease in borrowings and thereby the financial charges, which have decreased by Rs. 5 million compared to the same period last year.

Furthermore, the Company is focusing on value chain optimization and improvement in raw material inventory to manage better the rising commodity costs, which will help improve profitability while driving growth in upcoming periods.

Moving forward,

RPL will continue its policy & focus on sustainable growth. We hope to be an essential player in Pakistan’s new green economy by continuing our efforts to mitigate our impact on the environment and help reduce other industries’ impact through our recycling program and recyclable packaging options. The investment behind Roshan Sun Tao Paper Mills (Private) Limited is a critical initiative in the same direction. It will offer both fully recycled and recyclable corrugated products, says the director report.