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

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 30th 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.

Posted on: 2018-04-26T18:03:00+05:00