HINO steers toward recovery
MG News | January 29, 2025 at 04:46 PM GMT+05:00
January 29, 2025 (MLN): Hinopak Motors Limited (PSX: HINO) is on the road to recovery as the company reported a 65.5% reduction in net losses, bringing the figure down to Rs84.2 million for the nine months ended December 31, 2024, compared to Rs243.8m in the same period last year.
Despite a 21% surge in revenue to Rs6.64 billion, higher finance costs (+133.2%) and levies (+21.1%) dragged down the bottom line.
The company’s gross profit jumped 55.8% to Rs800.8m, driven by improved sales, though other income dipped nearly 48%.
Operating profits saw a dramatic turnaround, reaching Rs231.5m, reversing last year’s Rs66.8m loss.
However, after accounting for finance expenses and taxation, the company remained in the red.
Earnings per share (EPS) improved to -Rs3.4 from -Rs9.83, showing a significant cut in losses.
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