Al – Ghazi Tractors Limited profits fall by 21.83 percent to Rs. 524.592 million

By MG News | April 26, 2018 at 10:42 AM GMT+05:00

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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.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 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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