Sugar sector’s profits skyrocket 78% to Rs22bn in FY23

Pakistan’s listed sugar sector has reported a 78% year-on-year increase in profits, reaching Rs 22 billion for the fiscal year 2023. 

According to a note by Topline Pakistan Research, the sector’s remarkable performance is attributed to a rise in sugar exports, which has led to increased sugar prices domestically, boosting gross margins to new heights.

Net sales of the sugar sector soared…