AGTL profit drops sharply in 1QFY25

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.

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