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
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.
| 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.
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