Karachi: Air Link Communication Ltd. (AIRLINK) showcased a significant rise in annual revenue to PkR130 billion for FY24, a substantial increase from the previous year’s PkR37 billion, attributed to the lifting of import restrictions. The company also reported a notable increase in earnings, with net profits rising to PkR4.6 billion from PkR960 million in the prior year.

According to AKD Securities Limited, Airlink announced the completion of its Smart TV manufacturing facility and plans to start production soon, targeting a late November or early December market release for its Xiaomi Smart TVs. Additionally, Airlink has secured an exclusive contract to assemble and manufacture Acer laptops and tablets in Pakistan, expected to launch by the third quarter of the financial year.

The company is also exploring the electric vehicle market, having imported two units of Xiaomi’s EV cars to assess potential and pricing strategies, though no manufacturing agreement is in place yet. Discussions with the government are ongoing to facilitate the import and local assembly of laptops, and to implement export-related policies for mobile phones that could significantly enhance operational efficiency and reduce costs.

Looking ahead, Airlink anticipates a 45-50% increase in utilization levels upon commencement of mobile phone exports, up from the current 40%. The company is also negotiating the potential launch of 50 to 60 new retail stores next year and enjoys a tax exemption until 2025. Meanwhile, its subsidiary, Select Technologies, is subject to a regular 29% corporate tax and a 10% super tax on profits.