Ghandhara Industries Posts a Massive 76.5% Increase in Profits in Q3 FY2017-18

Ghandhara Industries Limited posted a net profit of Rs 354.19 million in the third quarter that ended on March 31, 2018, up 76.5% from Rs 200.67 million in the same period of the previous year.

Earnings per share (EPS) increased to Rs 16.63 from an EPS of Rs 9.42 in the period under review.

The overall net sales of the company grew to Rs 3.95 billion, which was up by 50.19% from Rs 2.63 billion.

During the quarter, a total of 1023 units of ISUZU trucks were sold as compared to 738 units last year, which shows a growth of 38.62% in the sales. The growth in number has been observed due to strong economic growth.

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The company sold only 30 units of ISUZU buses as compared to 65 units last year, down 116%.

The distribution costs saw an increase of 107% during this quarter. GHNI script at the bourse was trading at Rs 799.85, down by 2.70% with a turnover of 25,200 shares.

Cumulatively, during the first six months of fiscal year 2017-18, earnings clocked in at Rs 1.26 billion (or an EPS of Rs 59.26), up 161.29% compared with Rs 627.71 million (or an EPS of Rs 29.46) in the corresponding period previous year.

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The trucking business has already been picking up owing to a rise in construction and infrastructure activities and a boost in the logistics sector.

Not only CPEC, but greater consumerism and retail, and growth in others sectors are giving rise to trucking demand.

Ghandhara Industries is the exclusive distributor of ISUZU products in Pakistan and is part of the Bibojee Group of Companies.