Millat Tractors to shut down production operations from Monday

MG News | March 04, 2022 at 01:19 PM GMT+05:00

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March 04, 2022 (MLN): Due to operational constraints, Millat Tractors Limited (MTL) will keep its production operations closed from Monday, March 07, 2022, till further notice.

The aforesaid information was disseminated by the company to PSX today.

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.

Currently, the stock of MTL is trading at Rs1002.25 [2:49 PST], up by Rs1.14 or 0.11%.

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