KARACHI: Al-Ghazi Tractors Limited (PSX: AGTL) posted a profit after tax of Rs3.54 billion for 2024, reflecting a 35.63% year-on-year (YoY) increase from Rs2.61bn in the same period last year, according to the company’s financial statement released on Tuesday. Earnings per share (EPS) rose to Rs61.11 from Rs45.06.
Revenue remained steady at Rs34.57bn, marking a marginal 0.09% YoY increase. However, a 7.04% decline in the cost of sales to Rs26.14bn led to a 31.32% rise in gross profit, which stood at Rs8.43bn.
On the expense side, distribution costs surged 87.61% to Rs804.79m, while administrative expenses climbed 35.68% to Rs1.47bn. Other income dropped 43.65% to Rs315.63m, whereas other expenses fell 24.73% to Rs323.53m.
Finance costs increased by 25.36% to Rs446.77m. Despite an 86.90% surge in levy-final tax, the company’s profit before taxation rose 21.78% to Rs5.71bn. Income tax expenses increased 4.34% to Rs2.16bn, ultimately driving a net profit growth of 35.63% YoY.
