Ghandhara Industries Limited posted a net profit of Rs 450.37 million in the 2nd quarter that ended on December 31, up 82.19% from Rs 247 million in the same period of the previous year, according to a company notice sent to the Pakistan Stock Exchange (PSX).
Earnings per share (EPS) increased to Rs 21.14 from an EPS of Rs 11.61 in the period under review.
The net sales of the company clocked in at Rs 3.61 billion, up by 71.09% from the previous year due to an increase in sales of ISUZU trucks which increased to 786 units, up from 526 units.
The ISUZU Bus sales fell down 47.22% to 38 units this quarter as compared to 72 units sold in the corresponding previous year.
The finance cost lowered down to 8.2% for the quarter announced.
Cumulatively, during the first six months of the year 2017-18, earnings clocked in at Rs 908 million, up by a massive 112.65% compared to Rs 427 million in the corresponding period of previous year.
Earnings per share (EPS) increased to Rs 42.63 from an EPS of Rs 20.06 in the period under review.
Ghandhara Industries Limited engages in the manufacture, assembly, and marketing of Isuzu trucks and bus chassis in Pakistan. The company primarily offers pickups, light duty trucks, forward control trucks, rear dual tire trucks, rigid trucks and prime movers, microbuses, buses, and light commercial vehicles.
Meanwhile, Ghandhara Industries’ shares were trading at Rs 811.86, hitting its upper cap limit of day with an increase of Rs 38.66% with a turnover of 172,400 shares.