Al-Ghazi Tractors Ltd posts 27pc increase in profits for April-June 2017 quarter

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Karachi: In a notification sent to the bourse on Friday, Al-Ghazi Tractors Limited announced its financial results for the quarter April-June 2017.

Sales for the quarter ended April-June 2017 were reported at Rs4.553b in comparison to Rs3.537b same period last year (SPLY) registering a rise of 29pc.

Profit for the quarter ended increased to Rs6.74643b from Rs5.18515b in SPLY registering an increase of 23.14pc year on year (YoY).

The company’s earning per share fell 27pc quarter on quarter (QoQ) and rose 30pc YoY to reach Rs11.64 from Rs8.94 in SPLY. QoQ increase of 14pc was reported in share price to reach Rs643.88 per share and a YoY increase of 53pc was registered from Rs422.03 in SPLY.

Al-Ghazi Tractors declared an interim cash dividend of Rs25 per share for its shareholders. At the time of filing this report, the company’s shares were trading at Rs698.0, down 0.26pc from its close on Thursday.

The KSE-100 index was trading at 45,319.69 points, down 314.33 points (0.69pc) from close on Thursday.

Al-Ghazi Tractors Limited has a market valuation of Rs40.456m with a reported PE ratio of 21.00. It is into the business of manufacturing and selling agricultural tractors, implements, generators and spare parts.