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Mettis Global News
Mettis Global News
Mettis Global News

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Millat Tractors Ltd. profit rises 127% to Rs. 1.16 billion

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  • 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
Comparison of Key Financials

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.

Posted on: 2017-10-25T12:44:00+05:00