Panther Tyres Ltd. (PTL), a leading manufacturer of tyres and automotive components in Pakistan, reported a robust 38% year-on-year increase in revenue for the fiscal year ending June 30, 2024, driven by higher sales volumes and strong performance across domestic and export markets.
The company’s topline reached Rs29.5 billion in fiscal year 2024, compared with Rs21.4 billion the previous year, a 38% increase. Approximately 70% of sales stemmed from the replacement market, 15% from original equipment manufacturers (OEMs), and 15% from exports.
Export sales rose to Rs3.6 billion in fiscal year 2024, up from Rs3.1 billion in fiscal year 2023, with Turkey, Egypt, and Brazil emerging as key markets. Panther Tyres exported its full product portfolio, including tractor, off-the-road (OTR), and motorcycle tyres, highlighting its expanding global footprint. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
