Millat Tractors sees a 1.83x growth in profits during 1QFY21

13:57
October 26, 2020
MG

October 26, 2020 (MLN): Millat Tractors has earned Rs. 1.29 billion (EPS: 25.93) as profits during the quarter ended September 30, 2020, i.e. around 1.83x higher than the earnings of the same period last year.

The company reported a 68% growth in revenue on account of higher tractor prices as well as an increase in the volumetric sale during the period. As per Arif Habib Limited, the gross profits showed an improvement of 102% owing to higher economies of scale and changes in the sales mix.

Furthermore, the increase in the cash and bank balances of the company resulted in a 206% improvement in the non-core income.

MTL experienced a 71% decline in its finance cost owing to a lower interest rate regime during the period under review.

Consolidated Financial Results for the quarter ended September 30, 2020 (Rupees'000)
	Sep-20	Sep-19	% Change
Net sales	9,000,451	5,431,584	65.7%
Cost of goods sold	(6,768,944)	(4,325,993)	56.5%
Gross profit	2,231,507	1,105,591	101.8%
Distribution and marketing expense	(224,504)	(177,305)	26.6%
Administrative expenses	(220,320)	(197,020)	11.8%
Other income	91,852	29,970	206.5%
Other expenses	(129,150)	(48,253)	167.7%
Finance cost	(17,631)	(60,672)	-70.9%
Profit before taxation	1,731,754	652,311	165.5%
Taxation	(439,919)	(196,093)	124.3%
Profit after taxation	1,291,835	456,218	183.2%
Earnings per share	25.93	9.16	183.1%

Copyright Mettis Link News

Posted on: 2020-10-26T18:57:00+05:00

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43	KES	133.00000	135.00000	135.00000	133.00000	11:54 AM
44	AMD	390.04000	390.04000	390.04000	390.04000	07:57 AM
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47	XAG	27.29920	27.30680	27.30680	27.29920	03:43 PM
48	XPT	910.60000	912.10000	912.10000	910.60000	12:44 AM
49	XPD	1,020.50000	1,025.50000	1,025.50000	1,020.50000	12:44 AM
2,120	VES	36.26120	36.34220	36.34216	36.26125	11:55 AM
2,212	UGX	3,769.29000	3,853.65000	3,853.65305	3,769.28701	07:19 AM
2,213	TZS	2,594.99000	2,595.01000	2,595.01500	2,594.98500	07:16 AM

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
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KMIALLSHR	33,523.95	33,318.567	33,318.59	-47.008	-0.141	508,418,986.0	19,702,328,669.270	23/04/2024 04:13 PM
BKTi	17,962.81	17,852.482	17,760.93	-63.214	-0.353	24,348,778.0	2,523,701,350.410	23/04/2024 04:13 PM
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