Pak Suzuki Motor Company profits falls by 30.80 percent to Rs. 904.143 million

MG News | April 25, 2018 at 02:57 PM GMT+05:00

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Pak Suzuki Motor Company (PSMC) today announced financial results for the three months ending 31 March, 2018 reporting Turnover at Rs. 31.510 billion; an increase of 31.89 percent. Furthermore, the company’s Gross Profit fell to Rs. 2.616 billion from Rs. 2.904 billion last year during the outgoing three months.

On the expenses front, PSMC reported 13.72 percent increase in Distribution Costs, 55.31 percent increase in Administration Expenses, whereas, finance costs incurred by the company clocked in at Rs. 73.344 million during the period.

Furthermore, PSMC also reported a 5.03 percent decrease in Other Operating Income reaching Rs. 176.112 million during the three months.

Pak Suzuki Motor Company reported profit after taxation at Rs. 904.143 million against Rs. 1.306 billion during the same period last year translating into an EPS of Rs. 10.99 vs. an EPS of Rs. 15.88 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, 31 March, 2017
Key Financials	2018	2017	% Change
	Amounts in PKR ‘000
Turnover	31,510,787	23,890,840	31.89%
Cost of Sales	28,893,992	20,986,593	37.68%
Gross Profit	2,616,795	2,904,247	-9.90%
Distribution Costs	803,827	706,838	13.72%
Administrative Expenses	498,299	320,847	55.31%
Finance Costs	73,344	27,992	162.02%
Other Operating Income	176,112	185,433	-5.03%
Profit from Operations	1,319,669	1,893,657	-30.31%
Profit before Taxation	1,319,167	1,893,657	-30.34%
Taxation	415,024	587,034	-29.30%
Profit for the year	904,143	1,306,623	-30.80%
EPS - Basic	10.99	15.88	-30.79%

Company release on Earnings Report can be accessed here.

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