MTL posts 22% profit growth in 9MFY26

April 29, 2026 (MLN): Millat Tractors Limited (PSX: MTL) reported a robust 21.68% year-on-year expansion in profit after tax for the nine months ended March 31, 2026, recording Rs6.07bn compared to Rs4.99bn in the corresponding period last year.

The company's basic and diluted earnings per share (EPS) climbed 21.67% to Rs30.43, up from Rs25.01 in 9MFY25, reflecting meaningful value accretion for shareholders during the period.

MTL's net revenue posted a 12.31% year-on-year increase, rising to Rs45.91bn from Rs40.88bn. Cost of sales remained nearly flat, growing a marginal 0.12% to Rs29.67bn, well below the revenue growth rate.

This allowed gross profit to expand by a strong 44.43% to Rs16.24bn from Rs11.25bn, providing a solid earnings foundation for the period.

Distribution and marketing expenses rose 13.66% to Rs1.62bn while administrative expenses grew a contained 5.56% to Rs1.56bn.

Operating profit consequently expanded by 57.10% to Rs12.30bn from Rs7.83bn. Finance costs declined by 27.45% to Rs1.17bn from Rs1.61bn, providing a further meaningful tailwind.

Profit before income taxes and levies stood at Rs11.13bn, a 79.04% increase from Rs6.22bn in 9MFY25. After a levy charge of Rs17.37m, profit before income tax reached Rs11.11bn, a 79.20% expansion from Rs6.20bn.

Taxation rose sharply by 315.79% to Rs5.04bn from Rs1.21bn, reflecting the significantly higher taxable profit base.

After accounting for taxation, Millat Tractors Limited closed the nine-month period with a profit after tax of Rs6.07bn, representing a 21.68% expansion over the Rs4.99bn reported in the corresponding period of last year.

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