Millat Tractors’ consolidated profit falls 42.44pc

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LAHORE: The Board of Directors of Millat Tractors Limited (MTL) met on Wednesday to review the company’s performance and announce its financial results for the 2nd quarter ended December 31, 2019.

The tractors manufacturing company declared an interim cash dividend of Rs20 per share for the quarter under review.

According to the consolidated financial results, the company reported a profit after tax of Rs291.873 million for the quarter under review, as compared to Rs507.128 million for the corresponding period of last year, showing a decline of 42.44pc.

As per unconsolidated financial results, the company reported a PAT of Rs452.201 million as compared to Rs701.603 million for the corresponding period last year, showing a decline of 35.5pc.

The company’s consolidated earnings per share (EPS) for the quarter ended December 31, 2019, were recorded at Rs5.86, which is a decline of 42.4 from Rs10.18. Its unconsolidated EPS for the 2nd quarter were recorded at Rs9.08, which is a decline of 35.5pc from Rs14.08.

As per the company’s consolidated financial results, the finance cost for the period under review was recorded at Rs138.558 million, as compared to Rs37.931 million last year, showing a jump of 265.2pc.

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