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Hum Network Limited (HUMNL) reported a significant net profit increase of 21.5%, reaching Rs2.61 billion for the financial year 2024, compared to Rs2.15 billion in the previous year.
The company’s revenue also saw a notable rise of 21.7%, totaling Rs8.31 billion, up from Rs6.83 billion in FY23. Although the cost of sales increased by 12.5%, it was lower than the sales growth, leading to a 32.4% increase in gross profit to Rs4.18 billion.
Gross margins improved slightly to 50.3% from 46.3% last year. However, other income declined by 34% to Rs410.62 million, and administrative expenses rose by 11.8% to Rs990.12 million, with selling and distribution expenses increasing by 28.3% to Rs525.22 million.
