AGTL reports around 36% profit growth in 2024

March 21, 2025 (MLN): Al-Ghazi Tractors Limited (PSX: AGTL) unveiled its profit and loss statement for 2024, reporting a profit after tax of Rs3.54 billion [EPS: Rs61.11], compared to Rs2.61bn [EPS: Rs45.06] in the same period last year (SPLY), reflecting a 35.63% year-on-year (YoY) increase.

The revenue from contracts with customers remained stable, increasing 0.09% YoY to Rs34.57bn from Rs34.54bn in SPLY.

Meanwhile, the cost of sales decreased by 7.04% YoY to Rs26.14bn, resulting in a 31.32% rise in gross profit, which stood at Rs8.43bn.

On the expense side, distribution expenses surged by 87.61% YoY to Rs804.79 million, while administrative expenses rose 35.68% YoY to Rs1.47bn.

Other income fell 43.65% YoY to Rs315.63m, whereas other expenses dropped by 24.73% YoY to Rs323.53m.

The company's finance costs increased by 25.36% YoY, reaching Rs446.77m.

Consequently, profit before taxation and levy stood at Rs5.71bn, marking a 21.80% increase from Rs4.69 bn in the previous year.

Despite an 86.90% YoY rise in levy-final tax, the profit before taxation increased by 21.78% YoY to Rs5.71bn.

The company’s income tax expense rose by 4.34% YoY to Rs2.16bn, ultimately resulting in a net profit growth of 35.63% YoY.

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