Millat Tractors (PSX: MTL) reports 40% drop in annual profit

MG News | September 15, 2025 at 03:48 PM GMT+05:00

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September 15, 2025 (MLN): Millat Tractors Limited (PSX: MTL) has informed its financial results for the year ended June 30, 2025, revealing a significant drop in profitability

The company's net profit after tax fell to Rs. 6.32bn, a substantial decrease of 40.55% compared to the restated profit of Rs10.64 bn in FY24.

This decline was primarily driven by a sharp contraction in revenue. Revenue from contracts with customers dropped by 43.85% to Rs53.35bn, from Rs95.02bn in the previous fiscal year.

This resulted in a gross profit of Rs14.41bn, which was 39.90% lower than the Rs23.97bn recorded in FY24.

Despite a decrease in some expenses, the company's operating profit still saw a considerable decline of 46.80% to Rs10.32bn.

Finance costs, however, surged by 60.05% to Rs. 2.21bn, further pressuring the bottom line.

Consequently, the company's earnings per share (EPS) for the year stood at Rs. 31.70, representing a significant decrease of 41.70% from the Rs. 54.37 reported in the previous year.

STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2025(Rs.000)
Descriptions	2025	2024	Change%
Revenue from contracts with customers	53,347,603	95,020,571	-43.86%
Cost of sales	(38,940,489)	(71,048,945)	-45.19%
Gross profit	14,407,114	23,971,626	-39.90%
Distribution and marketing expenses	(1,743,400)	(2,090,918)	-16.62%
Administrative expenses	(1,985,289)	(1,882,084)	5.48%
Other operating expenses	(974,537)	(1,386,312)	-29.70%
Other income	612,595	768,556	-20.29%
Operating profit	10,316,483	19,380,868	-46.77%
Finance cost	(2,211,516)	(1,381,806)	60.05%
Profit before income taxes and final taxes	8,104,967	17,999,062	-54.97%
Levy - Final taxes	(24,175)	(64,243)	-62.37%
Profit before income tax	8,080,792	17,934,819	-54.94%
Taxation - Income tax	(1,756,619)	(7,297,572)	-75.93%
Profit after tax for the year	6,324,173	10,637,247	-40.55%
Earnings per share (Rupees)	31.7	54.37	-41.70%

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