KARACHI: The profit-after-tax of Descon Oxychem Limited (DOL) witnessed an increase of 69 per cent to reach Rs471 million during the fiscal year 2022, compared with the last fiscal year.

Due to the improved production, increased exports and surge in hydrogen-peroxide (H2O2) prices in the domestic and international market, DOL witnessed a 52 per cent year-on-year increase in the revenue to stand at Rs4.2 billion during fiscal year 2022.

To keep up with the growing H2O2 demand, the company achieved record production of 40,550 MeT. The company witnessed a 23.57 per cent increase in the production and 228 per cent in the exports as per the company’s financial year 2022 results.

The company has delivered exceptional business performance despite challenges posed by increase in energy costs and global supply chain disruption.

DOL Chief Executive Officer Mohsin Zia expressed his pleasure over the results which proved to be one the strongest in the company’s history.

“Our outlook continues to look promising for the coming months with increased margins, and positive cash flows. We implemented an effective strategy to mitigate the adverse geo-political and economic impacts through improved price-management, better product-placement, enhanced exports and timely expansion. This performance showcases the company’s resolve to continue to strengthen its position as a regional market-leader,” he added.

DOL, the leading manufacturer and exporter of H2O2 and allied products, was established in 2004 and over the decades it has achieved sustainable growth.

Going forward the company plans to penetrate into new segments enhancing margins and hedging against slow demand in future.

In addition to this the company also plans to strengthen its presence in the export market, therefore creating value for the shareholders and earning precious foreign exchange for the country.