Al – Ghazi Tractors Limited profits fall by 21.83 percent to Rs. 524.592 million
MG News | April 26, 2018 at 10:42 AM GMT+05:00
Al – Ghazi Tractors Limited (AGTL) today announced financial results for the three months period ending 31 March, 2018 reporting Sales at Rs. 6.957 billion; an increase of 40.17 percent. Furthermore, the company’s Gross Profit rose to Rs. 1.886 from Rs. 1.496 billion last year during the outgoing three months.
On the expenses front, AGTL reported 26.80 percent increase in Distribution Costs, 49.15 percent increase in Administrative Expenses, whereas, other operating expenses incurred by the company went up by 22.32 percent during the period.
Furthermore, AGTL also reported a 56 percent decrease in Other Income reaching Rs. 15.023 million during the three months.
Al – Ghazi Tractors Limited reported profit after taxation at Rs. 1.136 billion against Rs. 919.578 million during the same period last year translating into an EPS of Rs. 19.60 vs. an EPS of Rs. 15.86 during the three months ending March, 2017.
| Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30th 2018 | |||
|---|---|---|---|
| Key Financials | March, 2018 | March, 2017 | % Change |
| Amounts in PKR’ 000 | |||
| Sales | 6,957,891 | 4,964,031 | 40.17% |
| Cost of Goods Sold | 5,071,810 | 3,467,433 | 46.27% |
| Gross Profit | 1,886,081 | 1,496,598 | 26.02% |
| Distribution Costs | 76,186 | 60,427 | 26.08% |
| Administrative Expenses | 87,815 | 58,877 | 49.15% |
| Other Income | 15,023 | 34,149 | -56.01% |
| Other Operating Expenses | 119,068 | 97,344 | 22.32% |
| Finance Cost | 142 | 254 | -44.09% |
| Profit before Taxation | 1,617,893 | 1,313,845 | 23.14% |
| Taxation | 481,796 | 394,267 | 22.20% |
| Profit after Taxation | 1,136,097 | 919,578 | 23.55% |
| Other Comprehensive Income | - | - |
|
| Total Comprehensive Income | 1,136,097 | 919,578 | 23.55% |
| EPS | 19.60 | 15.86 | 23.58% |
Company release on Earnings Report can be accessed here.
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