Millat Tractors Earnings More Than Double Year on Year

Millat Tractors Limited boosted its net earnings by more than 143.26% on the back of higher sales in the year ended June 30, 2017, according to a notice sent to the Karachi Stock Exchange on Tuesday.

A subsidiary of Millat Group of Companies, it posted an after-tax profit of Rs 4.25 billion, up by 143.26% compared to Rs 1.75 billion in the same period last year. The company has announced an impressive profit during the fiscal year. The company’s Net Sales for the period increased by 77.45 percent in the outgoing year, whereas the Profit after Taxes for the period increased by 143.26 percent.

Earning per share (Basic and Diluted) increased up to 143.22 % to Rs 96.12 as compared to Rs 39.52 last year.

The company also announced a final cash dividend of Rs 60 per share. This is an addition to the interim dividend already paid at Rs 35.

At the time of filing this report, the stock in the Pakistan stock exchange touched a high of 1284 and touched a low of 1221. It is now currently trading at Rs 1270 or +Rs11 or +0.47% with a turnover of 54820 shares.

Company profile: Millat Tractors Limited is the country’s leading engineering concern in the automobile sector, and has assembly plants for agricultural tractors, engines and other industrial and agricultural products.

MTL is also a licensing partner of the AGCO Corporation, whose shares are listed on the New York Stock Exchange. AGCO designs, manufactures and distributes agricultural machinery and products through five core brands: Challenger, Fendt, GSI, Massey Ferguson and Valtra.



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