Millat Tractors resumes production operations after halt of 15 days

MG News | March 21, 2022 at 02:39 PM GMT+05:00

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March 21, 2022 (MLN): Millat Tractors Limited has announced the resumption of its production operations from Tuesday, March 22, 2022, the company’s filing on the PSX showed today.

Currently, the stock of MTL is trading at Rs781.5 [2:34], up by Rs1.36 or 0.17% DoD.

The company had closed its production operations from Monday, March 07, 2022, due to operational constraints.

On the financial front, the profitability of the company clocked in at Rs3.14 billion, up by around 7% YoY in 1HFY22, compared to Rs2.94bn in the corresponding period last year. This slender increase in profits was attributed to a rise in net sales of the company which surged by 28.58% YoY on the back of higher volumetric sales coupled with increased prices.

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