PSMCL profit falls 66 percent

March 26,2019

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KARACHI: Pakistan Suzuki Motor Company Limited (PSMCL) net profit decreased 66 percent to Rs1.298 billion for the year ended December 31, 2018 translating into earnings per share (EPS) of Rs15.77.

PSMCL earned Rs3.825 billion with EPS of Rs46.49 in the year ended December 31, 2017.

The company announced cash dividend of Rs3.16/share, which was 31.6 percent for the year ended December 31, 2018.

Finance cost of the company jumped up by Rs362 million to Rs68 million due to rise in borrowings to meet working capital requirement.

Analyst Syed Daniyal Adil from Topline Securities said further unfavourable movement in exchange rate and commodity prices, regulatory changes, increased competition from existing and new players, and disruptions in operations of principal company were key risks for the company.


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