Karachi: Pak Elektron Limited (PAEL) announced a positive financial trajectory and strategic focus towards the North American export market during its latest analyst briefing. The company recorded a significant rise in its earnings per share (EPS) for the second quarter of 2024, registering Rs1.13, an increase of 98% year-over-year and 117% quarter-over-quarter.

According to JS Global, the improvement in PAEL's financial performance was primarily due to a robust 38% increase in net sales, observed both year-over-year and quarter-over-quarter. The management highlighted a strategic pivot towards expanding its export operations, particularly targeting the North American market for its power division. This shift is expected to capitalize on higher gross margins with an estimated export capacity of approximately $100 million.

Furthermore, the company's management is optimistic about continued volume growth through the current year and into 2025. The positive outlook is supported by improving macroeconomic conditions and fewer import restrictions compared to the previous year. PAEL's strategy will focus on margin-accretive products rather than engaging in price cuts to gain market share.