Millat Tractors Ltd. profit rises 127% to Rs. 1.16 billion
MG News | October 25, 2017 at 12:44 PM GMT+05:00
- Millat Tractors Ltd. Net Sales almost doubled during the period. MTL reported sales worth 8.9 billion up by 92.45% from FY '16 Sales of 4.66 billion
- Company’s Other Operating Income increased by 328.03% adding around 127 million to the bottom line
- The Profit after tax for the period increased 127%, to 1.16 billion against same period last year’s PAT of 513 million
- The company’s earnings per share reached 26.34 up by 127% from 11.58 rupees in FY 16
| Unconsolidated Profit and Loss Account - For the Quarter Ended, September 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Net Sales | 8,969,064 | 4,660,407 | 92.45% |
| Cost of Sales | 7,020,258 | 3,660,634 | 91.78% |
| Gross Profit | 1,948,806 | 999,773 | 94.92% |
| Distribution and Marketing Expenses | 171,285 | 120,810 | 41.78% |
| Administrative Expenses | 138,800 | 121,708 | 14.04% |
| Operating Profit | 1,638,721 | 757,255 | 116.40% |
| Other Operating Income | 127,784 | 29,854 | 328.03% |
| Other Operating Expenses | 126,210 | 55,642 | 126.83% |
| Finance Costs | 307 | 200 | 53.50% |
| Profit before Taxation | 1,639,988 | 731,267 | 124.27% |
| Taxation | 473,377 | 218,245 | 116.90% |
| Profit for the period | 1,166,611 | 513,022 | 127.40% |
| EPS - Basic & diluted | 26.34 | 11.58 | 127.46% |
Company release on Earnings Report can be accessed here.
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