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.
