Millat Tractors profit drops 41% in nine months

April 25, 2025 (MLN): Millat Tractors Limited (PSX: MTL) reported a 41% year-on-year decline in consolidated profit after tax, clocking in at Rs4.99 billion for the nine months ended March 31, 2025, compared to Rs8.46bn in the same period last year.

Earnings Per Share (EPS) for the period stood at Rs25.01, compared to Rs42.39 in the same period of the previous year.

The drop in profitability comes on the back of a 42.9% decline in revenue, which fell to Rs40.88bn from Rs71.58bn last year, showing subdued demand across the agriculture and machinery sectors.

Correspondingly, cost of sales fell by 44% to Rs29.63bn, resulting in a gross profit of Rs11.25bn, down 39.7% year-on-year.

Operating profit declined sharply by 46.5%, landing at Rs7.53bn, while other income also contracted by 55.3% to Rs305 million.

On the other hand, finance costs more than doubled, rising 108% to Rs1.61bn, further squeezing the company’s bottom line.

The company recorded a profit before tax of Rs6.2bn, a steep fall of 55%, while taxation dropped by 77% to Rs1.21bn.

Other comprehensive income dropped significantly to Rs1.76m, down from Rs53.65m a year ago.

Copyright Mettis Link News