Earnings Report: Millat Tractors Ltd. (PSX: MTL) today reported Financial Results for the Twelve months ended June 30, 2017
MG News | September 12, 2017 at 11:45 AM GMT+05:00
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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