Earnings Report: Millat Tractors Ltd. (PSX: MTL) today reported Financial Results for the Twelve months ended June 30, 2017

By MG News | Category Equity | September 12, 2017 at 11:45 AM GMT+05:00

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Millat Tractors Ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Net Sales for the period increased by 77.45 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 143.25 percent.

The board has recommended a Cash Dividend for the year ended June 30, 2017 at the rate of 600% i.e. Rs 60.00/- per share. This is in addition to the interim dividend already paid at Rs. 35/- per share i.e. 350%. The board issued no bonus or right shares.

Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Year Ended
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net Sales	30,013,921	16,913,832	77.45%
Cost of Sales	22,916,592	13,577,972	68.78%
Gross Profit	7,097,329	3,335,860	112.76%
Dist: & Marketing Expenses	536,522	350,155	53.22%
Admin: Expenses	471,550	425,327	10.87%
Other Operating Expenses	454,934	196,521	131.49%
Other Income	610,091	272,249	124.09%
Operating Profit	6,244,414	2,636,106	136.88%
Finance Costs	2,181	15,300	-85.75%
Profit before Taxation	6,242,233	2,620,806	138.18%
Taxation	1,984,700	870,508	127.99%
Profit for the year	4,257,533	1,750,298	143.25%
EPS - Basic & diluted	96.12	39.52	143.22%

Company release on Earnings Report can be accessed here.

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