Millat Tractors Limited profits rise by 38.07 percent to Rs. 4.197 billion

MG News | April 26, 2018 at 06:03 PM GMT+05:00

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Millat Tractors Limited (MTL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 28.212 billion; up 34.10 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 6.324 billion from Rs. 4.888 billion last year during the outgoing nine months.

On the expenses front, MTL reported 9.13 percent increase in Distribution and Marketing Expenses, 7.73 percent increase in Administrative Expenses, whereas, Other Operating Expenses incurred by the company went up by 37.65 percent during the period.

Furthermore, MTL also reported a 75.52 percent decline in Other Income reaching Rs. 873.812 billion during the nine months.

Millat Tractors Limited reported profit after taxation at Rs. 4.197 billion against Rs. 3.039 billion during the same period last year translating into an EPS of Rs. 94.76 vs. an EPS of Rs. 68.63 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Sales - Net	28,212,304	21,037,890	34.10%
Cost of Sales	21,887,331	16,149,413	35.53%
Gross Profit	6,324,973	4,888,477	29.39%
Distribution and Marketing Expenses	490,702	449,665	9.13%
Administrative Expenses	374,882	347,995	7.73%
Other Operating Expenses	446,220	324,168	37.65%
Other Income	873,812	497,828	75.52%
Operating Profit	5,886,981	4,264,477	38.05%
Finance Cost	890	660	34.85%
Profit before Taxation	5,886,091	4,263,817	38.05%
Taxation	1,689,067	1,223,976	38.00%
Profit after Taxation	4,197,024	3,039,841	38.07%
EPS - Basic and diluted	94.76	68.63	38.07%

Company release on Earnings Report can be accessed here.

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