AGTL profit drops sharply in 1QFY25
MG News | April 25, 2025 at 10:41 AM GMT+05:00
April 25, 2025 (MLN): Al-Ghazi Tractors Limited (PSX: AGTL) has released its financial results for the first quarter ended March 31, 2025 (1QFY25), posting a profit after tax of Rs58.58 million [EPS: Rs1.01], marking a significant decline of 93.13% compared to Rs853.32m [EPS: Rs14.72] in the same period last year (SPLY).
As per the financials, revenue from contracts with customers fell sharply by 61.71% YoY, standing at Rs3.64bn in 1QFY25 compared to Rs9.5bn in SPLY.
Correspondingly, the cost of sales also dropped by 61.33% YoY to Rs2.86bn. However, due to the proportionate drop in revenue, gross profit decreased by 63.01% YoY to Rs780.51m.
On the expense front, distribution expenses decreased by 26.11% YoY to Rs133.91m, while administrative expenses edged up by 3.69% YoY, reaching Rs409.73m. Other operating expenses slightly declined by 5.68% YoY to Rs118.34m.
Other income supported the bottom line marginally, increasing by 12.87% YoY to Rs36.18m. Finance costs, however, rose by 3.96% YoY to Rs52.12m amid a high-interest rate environment.
Pre-tax profit stood at Rs102.6m, plunging 92.62% compared to the Rs1.39bn reported in the same quarter last year.
Meanwhile, the income tax expense also declined by 91.80% YoY to Rs44.02m, resulting in a total comprehensive income of Rs58.58m for the period.
| Financial Results For The First Quarter Ended March 31, 2025 (Rupees '000) | |||
| Category | Mar-25 | Mar-24 | %Change |
| Revenue from contracts with customers | 3,635,966 | 9,496,684 | -61.71% |
| Cost of sales | (2,856,458) | (7,386,468) | -61.33% |
| Gross profit | 780,507 | 2,110,216 | -63.01% |
| Distribution expenses | (133,911) | (181,225) | -26.11% |
| Administrative expenses | (409,725) | (395,130) | 3.69% |
| Other income | 36,183 | 32,058 | 12.87% |
| Other operating expenses | (118,338) | (125,460) | -5.68% |
| Finance costs | (52,116) | (50,131) | 3.96% |
| Profit before income tax | 102,600 | 1,390,328 | -92.62% |
| Income tax expense | (44,019) | (537,012) | -91.80% |
| Profit after income tax | 58,581 | 853,316 | -93.13% |
| Other comprehensive income | - | ||
| Total comprehensive income | 58,581 | 853,316 | -93.13% |
| Basic and diluted earnings per share | 1.01 | 14.72 | -93.14% |
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